The allotment for the initial public offer (IPO) of TVS Supply Chain Solutions is likely to be finalised today. Investors can check their allotment status on the issue's registrar Link Intime's website as well as on BSE.
The ₹880 crore issue of TVS Supply Chain Solutions was open for subscription between August 10-14 with a price range set in the range of ₹187-197. The issue consisted of a fresh equity share sale of ₹600 crore and an offer-for-sale (OFS) for 1.42 crore shares worth ₹280 crore.
This was the third IPO in August after SBFC Finance and Concord Biotech.
The public issue received a decent response from the investors and was overall subscribed to 2.78 times in the 3 days of bidding. It saw bids for 6.99 crore equity shares against an offer size of 2.51 crore shares. The portion for qualified institutional bidders was subscribed 1.35 times, while that for non-institutional investors and retail investors were booked 2.35 times and 7.61 times, respectively.
TVS Supply Chain will make its debut on the BSE and NSE on August 28.
Here's how you can check the allotment status on BSE:
1) Go to the website.
2) Select ‘Equity’ and then from the dropdown, select the issue name (TVS Supply Chain Solutions).
3) Enter your application number and PAN card number.
4) Click on the "Search" button.
In a similar way, you can also check on its registrar's website
1) Go to the website of Link Intime.
2) Click on ‘Company Selection’ and then select the IPO name (TVS Supply Chain Solutions).
3) Now, enter your PAN, application number, DP / Client ID or account number / IFSC.
4) Click on ‘Search’.
The status will only appear after allotment if the details are entered correctly. The initiation of the refund process will start on Monday, August 21, for individuals not given shares. Those allotted will receive their shares in their demat accounts on Tuesday, August 22.
GMP: Ahead of the listing, the company's shares in the grey market are trading at a premium of ₹0.50, indicating a flat listing for the issue. It has fallen from ₹30 on August 8.
However, one must note that the grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.
TVS Supply Chain Solutions provides supply chain management services for international organisations, government departments, and large and medium-sized businesses. It offers its services in two segments namely - integrated supply chain solutions (ISCS) and network solutions (NS). Its listed peers include TCI Express, Mahindra Logistics, Blue Dart, and Delhivery.
Brokerage firms were mixed on the issue. While some suggested subscribing to the issue due to its asset-light business model, strong parentage, and growth prospects; others recommended avoiding the issue on the back of its expensive valuations as compared to peers.