TVS Supply Chain will open its public offer on August 10 and close on August 14. The company has fixed the price band for the IPO at ₹187-₹197 per equity share.
Bids can be made for a minimum of 76 equity shares and in multiples of 76 equity shares thereafter. The issue is a mix of a fresh issue and an offer for sale. The fresh issue intends to raise as much as ₹600 crore and the proceeds from this portion will be used for prepayment or repayment of outstanding borrowings, and towards general corporate purposes.
Investors such as Omega TC Holdings, Tata Capital Financial Services, Kotak Special Situations Fund, as well as TVS Motor Company will sell shares as a part of the offer.
The offer is being made through a book building process wherein not less than 75% shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs). The book running lead managers may allocate up to 60% of the QIB portion to anchor investors on a discretionary basis, the company.
