New Delhi. The country’s IPO market is out. One after the other, many companies are bringing their initial public offering ie IPO. Now the logistics company TVS Supply Chain Solutions is also preparing to bring an IPO. The company is planning to raise Rs 5000 crore through IPO. For this, the company has submitted the initial documents for the IPO with the market regulator Securities and Exchange Board of India (SEBI).
Company to issue new shares worth Rs 2,000 crore
According to the IPO documents, the company will issue fresh shares worth Rs 2,000 crore under the IPO. Apart from this, the promoters and existing investors of the company will bring OFS i.e. Offer for Sale (OFS) of 5.95 crore equity shares.
read this also- Fixed Deposit: Many banks have changed interest rates, Adopt these methods better than breaking FD in financial crisis, will not harm
IPO size will be Rs 5 thousand crore
Market sources say that the size of the IPO will be Rs 5000 crore. According to the documents, out of the amount received from the new shares, Rs 1,166 crore will be used to pay off the loan. The company will invest Rs 75.2 crore in its strategically important subsidiaries in Germany, USA and Thailand. Apart from this, Rs 60 crore will be invested in the company’s UK-based unit.
Also read- Air India and Air Asia passengers become tension free, now they can travel even if flight is canceled
Know about the company
TVS Supply Chain Solutions is an integrated supply chain solutions provider. This company is promoted by the erstwhile TVS Group and is now a part of TVS Mobility Group. The company’s business is spread in more than 25 countries including UK, Spain, Germany, Australia, Singapore. In India, it provides its service to companies like Mahindra & Mahindra Limited, Sony India and Hyundai Motor India.
Read Article in हिन्दी