
TVS Supply Chain Solutions slides 7% as Q1 loss widens
The share price of supply chain solutions provider snaps four sessions losing streak after its June quarter loss increased to ₹65.3 crore in Q1 FY24.
The share price of supply chain solutions provider snaps four sessions losing streak after its June quarter loss increased to ₹65.3 crore in Q1 FY24.
R. Dinesh has been appointed as chairman of TVS Supply Chain Solutions; two new additional independent directors also joined the board of the company.
Post listing, TVS Supply Chain Solutions shares gained as much as 5.9% to hit a high of ₹208.6 on the NSE, while it touched a high of ₹208.5 on the BSE.
The quota reserved for QIBs was booked 1.35 times, while the NIIs and retail categories were subscribed 2.35 and 7.6 times, respectively.
The TVS Group company aims to raise ₹880 crore via IPO, which comprises fresh equity shares of up to ₹600 crore and an offer for sale of 14,213,198 shares.
This is going to be the first TVS Group company to launch an IPO in 25 years, consisting of a fresh issue of ₹2,000 crore and OFS of up to 5.95 crore equity shares.
The TVS Group company has filed an addendum to its previously submitted DRHP with SEBI, including the financial information for FY22 and H1FY23.