TVS Supply Chain Solutions, a part of TVS Mobility Group, has obtained Sebi’s approval to raise funds through initial share sales. It will be the first TVS Group entity to go public in more than two decades and a half.
The IPO consists of fresh issue of equity shares aggregating up to Rs 2,000 crore and an OFS of up to 5.95 crore equity shares by the company’s promoter and existing investors.
According to media reports, the company will use Rs 1,300 cr (out of the Rs 2,000 cr) to repay loans and invest in its overseas operations. The rest of the funds will likely be used for the purpose of strategic acquisitions.
TVS Supply Chain Solutions has had a prolific record of acquisitions in recent years, especially of foreign businesses. Data shows the company has bought out around 20 entities in the past decade and a half.
The company runs two core businesses — network solutions and integrated supply-chain solutions.
