CHENNAI: The initial share sale of TVS Supply Chain Solutions, part of TVS Mobility Group, will be open for public subscription on August 10.
The Initial Public Offering (IPO) will conclude on August 14 and the bidding for anchor investors will open on August 9, according to the red herring prospectus. The IPO comprises a fresh issue of equity shares aggregating up to Rs 600 crore and an Offer for Sale (OFS) of 1.42 crore equity shares by existing shareholders. Those offering shares in the OFS include Omega TC Holdings Pte Ltd, Tata Capital Financial Services Ltd, TVS Motor Company Ltd and Kotak Special Situations Fund
Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiaries — TVS LI UK and TVS SCS Singapore — and the remaining funds for general corporate purposes.