Aug 9, 2023
By: Sourabh Jain
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Chennai-based TVS Supply Chain is all set to begin its initial public offering (IPO) from August 10.
Credit: TVS Supply Chain
The IPO will open on August 10 and close on August 14.
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TVS Supply Chain has fixed a price band of ₹187-₹197 per share for its public issue.
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TVS Supply Chain is looking to raise ₹880 crore from the current IPO, which includes a fresh issue of ₹600 crore and an offer for sale of ₹280 crore.
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Investors can bid for a minimum of 76 shares and in multiples of 76 shares thereafter.
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TVS Supply Chain is an integrated supply chain solutions and network solutions provider.
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As of March 31, 2023, TVS Supply Chain manages 22 million square feet of logistics warehouse space, carrying 2,074 tons of freight and 32,720 twenty-foot equivalent units of sea freight in India.
Credit: TVS Supply Chain
The company’s income was ₹10,235 crore in FY23, up from ₹9,249 crore in FY22. The company had a restated net profit of ₹41.7 crore in FY23, up from a loss of ₹45.8 crore in FY22.
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The company has listed exchange rate fluctuations as a possible risk as in the last three years, 73 percent of its revenue was denominated in foreign currency.
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In addition to this, the company has also mentioned that it is subject to complex legal and regulatory requirements as its operations are spread across 26 countries. Any disruption in its ability to utilise the logistics infrastructure will also have an adverse effect on the business.
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