Jobaaj Stories
Supply chain solutions provider TVS Supply Chain Solutions (TVS SCS) is reportedly planning to file a fresh DRHP with capital markets regulator SEBI to float its public offer.
One of the biggest suppliers of supply chain solutions in India is TVS Supply Chain Solutions, a division of the TVS Mobility Group. The company has 2 main services: Integrated Supply Chain Services and Network services, which are used in numerous industries such as Defence, Healthcare, Rail, Telecom, Automotive, Consumer and many more.
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It has a presence in 25 countries, and serves over 60 Fortune 500 companies. The company serves several famous clients which include the likes of Amey, AM General, Cavendish Nuclear, Coca-Cola (Europacific Partners), Diageo, Ford, GM, Isuzu, Siemens and Volkswagen.
The company started talks for going public in January 2022 as the company filed its first DRHP in February 2022 to raise Rs 2,000 crores from the IPO. The same got approved by SEBI in May 2022. But the company did not launch its IPO.
In November 2022, the company made an addendum to the DRHP when it turned profitable but did not launch the public offer due to adverse market sentiments on account of the Russia-Ukraine war.
The approval from SEBI is to expire early next month as the company is planning to file a fresh set of papers to raise Rs 1,200 crores. According to the bankers of the issue, promoters will not be participating in the OFS, a significant deviation from the previous filing.
Axis Capital, JP Morgan, Edelweiss Financial Services, Equirus, JM Financial and BNB Paribas are the lead managers of the issue.
- Aman Agarwal
