TVS Supply Chain Solutions, a part of TVS Mobility Group, is gearing up for the initial share sale that would be open for public subscription from August 10 onwards, officials said on Wednesday.
The city-based company is hitting the capital market after a gap of nearly 29 years, Executive Vice-Chairman R Dinesh said.
“I think the last time when we raised (funds) was in 1994…,” he told reporters.
The price band has been fixed at Rs 187-197 for the Rs 880 crore initial public offering (IPO), valuing the company at Rs 8,700 crore.
The initial share sale comprises Rs 600 crore of fresh issue and Rs 280 crore sale by the promoters. The IPO would be open for subscription during August 10-14, he said.
At the upper end of the price band, the IPO is expected to fetch Rs 880 crore. From the issue’s proceeds, Rs 525 crore will be used for pre-existing debt repayment and its subsidiary TVS LI UK.
A portion of the fund would also be used for “inorganic growth” and general corporate …
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