TVS Supply Chain Shares Debut With Over 5 Per Cent Premium

Shares of TVS Supply Chain Solutions Ltd, part of TVS Mobility Group, began the trade with a premium of over 5 per cent against the issue price of Rs 197 on its debut trade on Wednesday. The stock listed at Rs 206.30, up 4.72 per cent from the issue price on the BSE.

It later jumped 5.83 per cent to Rs 208.50. At the NSE, it began the trade at Rs 207.05, registering a gain of 5.10 per cent. The stock further rallied 5.88 per cent to Rs 208.60. The company commanded a market valuation of Rs 8,791.94 crore in morning deals.

The Initial Public Offering (IPO) of TVS Supply Chain Solutions was subscribed 2.78 times last week. The Rs 880-crore IPO had a price range of Rs 187-197 per share. TVS Supply Chain Solutions is present in over 25 countries.

The company is promoted by erstwhile TVS Group and is now part of TVS Mobility Group, which has four business verticals -- supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service.

(PTI)