TVS Supply Chain Solutions
Book Building issueMainboard₹880 Cr issue
+4.72%
Listing gain over issue price
Issue size
₹880 Cr
1 lot at cut-off
₹14,972
Lot size
76shares
Open
10 Aug 2023
Close
14 Aug 2023
Allotment
18 Aug 2023
Listing
23 Aug 2023
Listing performance
Issue price
₹197
Listed at
₹206.30
Listing-day close
₹201
Latest price
₹108.75
Close on 23 Oct 2026
Listing gain
+4.72%
Return since issue
-44.80%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 10 Aug 2023 – 14 Aug 2023
- Listing date
- 23 Aug 2023
- Face value
- ₹1 per share
- Issue price
- ₹197 per share
- Lot size
- 76 shares
- Issue type
- Book Building issue
- Total issue size
- ₹880 Cr
- Market cap at offer price
- ₹8,746 Cr
- Promoter holding
- 46.65% → 42.76% pre-issue → post-issue
- ISIN
- INE395N01027
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- JM Financial Ltd.
- Registered office
- 10 Jawahar Road, Chokkikulam, Tamil Nadu
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 2,01,01,522 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 76 shares per lot, in multiples, at ₹197
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 76 | ₹14,972 |
| Retail (max) | 13 | 988 | ₹1,94,636 |
| S-HNI (min) | 14 | 1,064 | ₹2,09,608 |
| S-HNI (max) | 66 | 5,016 | ₹9,88,152 |
| B-HNI (min) | 67 | 5,092 | ₹10,03,124 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
2,01,01,522
Anchor portion
₹396 Cr
at ₹197 per share
Valuation and performance
Valuation at offer price
₹197 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 1.04 | — |
| P/E (×) | 189.42 | — |
| Market cap | — | ₹8,746 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 5.50%
- ROCE
- 7.64%
- NAV per share
- ₹18.89
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About TVS Supply Chain Solutions
TVS Supply Chain Solutions Limited, originally incorporated as TVS Logistics Services Limited in November 2004 and renamed in February 2019, is a public limited company providing integrated supply chain solutions and logistics services. The company manages large and complex supply chains for customers across automotive, industrial, consumer, tech, rail, utilities, and healthcare industries. It offers end-to-end solutions spanning sourcing and procurement, transportation, in-plant logistics, aftermarket fulfilment, ocean and air freight forwarding, spare parts logistics, and engineering support. As of March 31, 2023, the company operated across 26 countries serving 8,788 customers globally. The company generated revenue from operations of ₹102,353.80 million in Fiscal 2023, with 70.43% derived from rest-of-world segment operations.
Company Analysis
from RHPTVS Supply Chain Solutions Limited is India's largest integrated supply chain solutions provider, offering tech-enabled logistics and supply chain management services across multiple industries in India and select global markets.
TVS Supply Chain Solutions Limited, originally incorporated as TVS Logistics Services Limited in November 2004 and renamed in February 2019, is a public limited company providing integrated supply chain solutions and logistics services. The company manages large and complex supply chains for customers across automotive, industrial, consumer, tech, rail, utilities, and healthcare industries. It offers end-to-end solutions spanning sourcing and procurement, transportation, in-plant logistics, aftermarket fulfilment, ocean and air freight forwarding, spare parts logistics, and engineering support. As of March 31, 2023, the company operated across 26 countries serving 8,788 customers globally. The company generated revenue from operations of ₹102,353.80 million in Fiscal 2023, with 70.43% derived from rest-of-world segment operations.
logistics and supply chain solutionsautomotiveindustrialconsumer goodstechnology and tech infrastructurerailutilitieshealthcare
Objects of the Issue
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company and our Subsidiary, TVS LI UK ₹5,250.00 million p.28
- Offer expenses ₹750.00 million p.28
- Not detailed in this part of the document p.80
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company and our Subsidiary, TVS LI UK ₹5,250.00 million p.131
- General corporate purposes Nil p.134
- IPO-related expenses p.419
- General corporate purposes ₹6,000.00 million (Fresh Issue) p.506
Issue Structure
- Total Issue
- ₹8,800 million (44,670,050 Equity Shares at ₹197 per share)
- Fresh Issue
- ₹6,000 million (30,456,852 Equity Shares at ₹197 per share)
- Offer for Sale
- ₹2,800 million (14,213,198 Equity Shares at ₹197 per share)
- Price Band
- ₹187 to ₹197 per Equity Share
- Lot Size
- 76 Equity Shares and in multiples of 76 Equity Shares thereafter (Bid Lot)
- Face Value
- ₹1 per Equity Share
Business Model
The company earns revenue by providing integrated supply chain solutions and logistics services to customers across multiple industries and geographies. Key revenue drivers include freight, clearing, forwarding and handling charges (36.47% of revenue in Fiscal 2023), transportation services, warehousing, in-plant logistics, aftermarket fulfilment, and specialized logistics services including spare parts logistics and global forwarding solutions.
Business Segments
Provides end-to-end integrated supply chain solutions including sourcing, procurement, transportation, in-plant logistics, aftermarket fulfilment, spare parts logistics and engineering support
Provides ocean and air freight forwarding, transportation, warehousing and other logistics services
Supply chain and logistics services to industrial customers
Supply chain and logistics services to automotive customers
Supply chain and logistics services to technology and tech infrastructure customers
Supply chain and logistics services to consumer sector customers
Supply chain and logistics services to rail and utilities customers
Supply chain and logistics services to healthcare customers
Sourcing and procurement, integrated transportation, logistics operation centers, in-plant logistics operations, finished goods, aftermarket fulfillment and supply chain consulting
Global forwarding solutions (managing end-to-end freight forwarding and distribution across ocean, air and land), warehousing and port storage, value added services, and time critical final mile solutions (closed loop logistics including spares logistics, break-fix, refurbishment and engineering support, and courier and consignment management)
Provides end-to-end supply chain solutions including sourcing and procurement, integrated transportation, logistics operation centres, in-plant logistics operations, and finished goods and aftermarket fulfillment services. Services include master data management, e-catalog, forecasting, procurement, inventory planning, line side delivery, production support, warehousing, material management, vendor managed inventory, just-in-time delivery, sub-assembly, sequencing, kitting, value-add assembly, and intra plant material handling.
Provides Global Forwarding Solutions (GFS) including air freight, ocean freight, land freight, and project forwarding solutions. Also provides Time Critical Final Mile Solutions (TCFMS) including closed loop logistics (spare parts logistics, break-fix, return, refurbishment, engineering support) and courier services (same-day, next-day, and international courier).
Freight forwarding and customs clearing activities
Contract packaging, leasing of packing assets and reverse logistics services to corporates across India
Logistics services, supply chain management services in free trade warehousing zones, material management solutions, tyre and wheel assembly solutions, in-plant warehouse and aftermarket warehousing services
Warehousing and logistics support
Provision of outsourced inventory management and logistics services to the automotive, utilities and smart metering, beverage, rail, industrial, defense and other sectors
Freight transport arrangement and providers of transport and logistics management services
Capabilities include sourcing and procurement, integrated transportation, logistics operation centers, in-plant logistics operations, finished goods, aftermarket fulfillment and supply chain consulting.
Capabilities include global forwarding solutions (managing end-to-end freight forwarding and distribution across ocean, air and land), warehousing and at port storage, value added services, time critical final mile solutions (closed loop logistics, spares logistics, break-fix, refurbishment and engineering support), and courier and consignment management.
Provides integrated supply chain management services
Provides network services including freight forwarding and logistics
Provides supply chain management services including management fees and service charges to subsidiaries and related entities across its global network
Provides freight forwarding, customs clearing, and handling services to customers and related entities
Operates warehousing and distribution facilities for supply chain solutions
Provides sourcing and procurement, integrated transportation, logistics operation centers, in-plant logistics operations, finished goods and aftermarket fulfillment, and supply chain consulting services across geographies including India, United Kingdom, Europe, North America and Asia Pacific. Capabilities include master data management, e-catalogue, forecasting, procurement planning, production support logistics, warehousing, material management, sub-assembly, kitting, sequencing, and finished goods and spare parts warehousing.
Comprises Global Forwarding Solutions (GFS) managing end-to-end freight forwarding and distribution across ocean, air and land, warehousing and at port storage with value added services, and Time-Critical Final Mile Solutions (TCFMS) involving closed loop logistics, break-fix, refurbishment and engineering support, spares logistics, and courier and consignment management. Services provided across India, Asia Pacific, United Kingdom, Europe and North America.
Provides freight and transportation services, warehousing, packaging, kitting, reverse logistics, inventory management, and other supply chain services to customers
Provides construction and erection of telecommunications towers and related services
SWOT Analysis
Strengths
- • India's largest integrated supply chain solutions provider among listed companies(p.27)
- • 16+ years of experience managing complex supply chains across multiple industries(p.27)
- • End-to-end integrated service portfolio across sourcing, transportation, and logistics(p.27)
- • Diversified global operations across 26 countries and multiple customer segments(p.51)
- • Pioneer and market leader in integrated supply chain solutions in India(p.199)
- • Largest listed Indian supply chain solutions provider by revenue and growth(p.225)
- • Significant scale with 72 Fortune Global 500 customers globally(p.226)
- • Extensive global presence across 26 countries(p.226)
- • Strong technology ecosystem with proprietary platforms(p.228)
- • Long-standing customer relationships providing revenue resilience(p.226)
- • Large operational footprint spanning over 27 million sq ft(p.226)
- • Largest supply chain solutions provider from India by consolidated revenue(p.234)
- • Robust in-house technology differentiation with modular, plug-and-play solutions(p.240)
- • Proven track record of successful acquisitions and integration over 16 years(p.232)
- • Strong long-term customer relationships with 14.6 years average tenure for top 5 customers(p.243)
- • Predictive analytics and AI-driven capabilities for supply chain optimization(p.231)
- • Asset-light model enabling geographic expansion and operational flexibility(p.236)
- • Diversified revenue streams across industries and geographies reducing concentration risk(p.242)
- • Large subsidiary network providing global reach and diversified operations(p.282)
- • Established presence across key geographies including North America, Europe, and Asia-Pacific(p.282)
- • Fully owned majority subsidiaries enabling strong operational control(p.282)
- • Experienced senior management with strong track record in logistics and supply chain(p.347)
- • Executive leadership with deep industry expertise and entrepreneurial awards(p.331)
- • Established promoter group with long-standing business operations(p.351)
- • Diversified supply chain service portfolio across multiple segments(p.374)
- • Strong geographic revenue presence with significant international operations(p.396)
- • India's largest integrated supply chain solutions provider with strong revenue growth(p.507)
- • Long-term stable customer relationships with marquee clients across diverse sectors(p.512)
- • Established track record of successful acquisitions and integration across 20+ acquisitions(p.513)
- • Proprietary technology platform with multiple operational systems and software(p.510)
- • Asset-light business model with extensive network of partners reducing capital intensity(p.514)
- • Diversified geographic presence across 26 countries reducing single-market dependency(p.530)
- • Marquee Fortune Global 500 customer base with 72 customers in FY2023(p.507)
Weaknesses
- • History of losses in Fiscal 2021 and 2022(p.42)
- • High debt burden with ₹19,896.16 million in total borrowings as of March 31, 2023(p.43)
- • Significant working capital requirements increasing with business growth(p.47)
- • Dependence on key customers for material portion of revenue(p.48)
- • Material exposure to minority shareholder disputes with substantial financial impact(p.42)
- • Losses incurred by subsidiaries may affect consolidated financial performance(p.43)
- • Material Subsidiaries incurring losses(p.53)
- • Reliance on technology infrastructure vulnerable to disruption(p.54)
- • Past cybersecurity incidents(p.54)
- • Rising operating costs of network partners(p.55)
- • Dependence on leased warehouse space with renewal risks(p.55)
- • Concentration of promoter ownership and control(p.57)
- • Corporate guarantees and pledged shareholding in subsidiaries(p.57)
- • Rising employee attrition and labor costs(p.58)
- • Tax compliance uncertainties regarding Form 5471 filings with potential penalties(p.172)
- • Contingent US tax liabilities from Form 5471 errors affecting statute of limitations(p.173)
- • Ongoing state tax audit in Tennessee with proposed assessment(p.176)
- • Customer concentration with top 5 customers representing 17.91% of revenue(p.243)
- • Declining customer base from 11,546 to 8,788 customers over three years(p.233)
- • Reduced permanent employees from 18,490 to 17,913, indicating potential operational challenges(p.233)
- • India customer base declined significantly from 1,120 to 902 customers(p.233)
- • Low operating margins of 6.38-7.21% indicating pressure on profitability(p.248)
- • Dependence on network partners for critical assets without full control(p.255)
- • Losses in foreign subsidiaries impacting consolidated financial performance(p.326)
- • Rico Logistics Limited generating significant losses despite large revenue base(p.326)
- • Complexity of managing 68 subsidiaries across multiple jurisdictions and regulatory regimes(p.282)
- • Concentration of promoter shareholding with key executives holding significant equity(p.336)
- • Negative net worth in certain subsidiaries indicating balance sheet weakness(p.326)
- • Significant and growing financial leverage(p.365)
- • Persistent operating losses despite revenue growth(p.367)
- • Dependence on related party transactions and promoter group entities(p.354)
- • Exposure to foreign currency volatility with significant international operations(p.367)
- • No dividend history despite IPO preparation(p.357)
- • Significant unrecognised deferred tax assets indicating carry-forward tax losses that may not be utilised(p.401)
- • High leverage with debt-to-equity ratio of 1.61(p.423)
- • Exposure to foreign currency risk through significant international operations(p.422)
- • Material contingent liabilities including employment-related disputes(p.432)
- • High leverage with total borrowings of ₹19,896.16 million as of March 31, 2023(p.535)
- • Revenue concentration in top customers with top 20 ISCS customers contributing 59.04% of segment revenue(p.512)
- • Significant past integration costs from multiple acquisitions impacting profitability(p.513)
- • Two acquisitions have been loss-making since acquisition (out of 18 operational acquisitions)(p.513)
- • Ongoing litigation with minority shareholders regarding acquisition settlement amounts(p.537)
- • Significant dependence on top customer base(p.543)
- • High outstanding borrowings and financial indebtedness(p.565)
- • Multiple regulatory and labour compliance matters across facilities(p.571)
- • Exposure to Provident Fund contribution disputes and penalties(p.570)
Opportunities
- • Large and growing addressable market in India and globally(p.27)
- • Increasing trend towards end-to-end outsourcing of supply chain management(p.27)
- • Expansion of scope with larger customers and disengaging with smaller opportunistic customers(p.51)
- • Growing outsourcing trend in supply chain management(p.65)
- • Expansion of Indian logistics market(p.65)
- • COVID-19 pandemic created new business opportunities(p.62)
- • Strategic acquisition capabilities for growth(p.57)
- • Strong growth in India's logistics market projected to reach $591 billion by FY27(p.195)
- • Supply chain solutions market outpacing overall logistics growth at 22% CAGR(p.200)
- • Shift from unorganized to organized logistics sector with consolidation opportunity(p.197)
- • Rising demand for integrated end-to-end supply chain outsourcing solutions(p.195)
- • Government initiatives like Make in India and PLI schemes driving manufacturing growth(p.187)
- • eCommerce and organized retail sectors showing highest growth rates at 26% and 22% CAGR(p.189)
- • Global 3PL market penetration expanding from 25.3% to 27.4% by 2026(p.218)
- • Indian outsourced supply chain solutions market expected to grow 20-22% CAGR to $20-21B by 2027(p.234)
- • Global third-party logistics market growing at 8.2% CAGR to $1.7T by 2026(p.235)
- • Asia-Pacific ITM segment growing at 8.5% CAGR driven by loosening of China's Zero-COVID policy(p.236)
- • Supply chain solutions penetration less than 5% in India vs 11% in developed markets(p.238)
- • C3 Framework strategy to deepen customer relationships and expand into adjacent sectors(p.232)
- • Significant growth in new age sectors including electric vehicles, healthcare and clean energy(p.246)
- • Freight forwarding market in India expected to grow from $4.7B to $8.5B by 2027(p.239)
- • Expansion of logistics services across emerging markets in Southeast Asia(p.315)
- • Growth in contract logistics and supply chain management services(p.297)
- • Expansion into specialized repair and refurbishment services for electronics and automotive components(p.288)
- • Growth in free trade zone warehousing and in-plant logistics operations(p.287)
- • Digitization of supply chain solutions through advisory and technology services(p.287)
- • Expansion of integrated supply chain solutions segment(p.394)
- • Growth in global forwarding and network solutions(p.394)
- • International market penetration with existing presence in multiple geographies(p.396)
- • Growing demand for outsourced supply chain solutions in emerging sectors and developing markets(p.513)
- • Cross-selling potential with existing customers through encirclement strategy(p.513)
- • Geographic expansion opportunities across underpenetrated markets(p.508)
- • Adjacent sector opportunities leveraging existing capabilities in sourcing and procurement(p.510)
- • Consolidation opportunities in fragmented logistics industry through M&A(p.530)
- • Global operations expansion with presence in multiple countries(p.565)
- • Recent subsidiary incorporation and expansion in Southeast Asia(p.544)
- • Dual operating segments with diversified service offerings(p.543)
Threats
- • Intense competition from organized and unorganized players in fragmented industry(p.51)
- • Risk from predatory pricing by competitors(p.48)
- • Exposure to foreign exchange volatility across 26 countries of operation(p.22)
- • Dependence on network partners for warehousing and transportation operations(p.22)
- • Risk of customer defaults and payment delays affecting liquidity(p.51)
- • Exposure to U.S. export control restrictions affecting key customers(p.47)
- • Regulatory and compliance risks across multiple international jurisdictions(p.46)
- • Environmental compliance obligations in U.S. operations(p.46)
- • Regulatory compliance and enforcement uncertainty(p.53)
- • Past environmental law non-compliance notices(p.53)
- • Data protection and privacy law compliance risks(p.53)
- • Customer concentration in cyclical industries(p.59)
- • Automotive industry cyclicality and strikes(p.59)
- • Dependence on complex logistics infrastructure(p.59)
- • Outstanding litigation and regulatory proceedings(p.63)
- • Hazardous materials transportation risks(p.64)
- • Labor unionization and strike risks(p.63)
- • Economic slowdown and cyclical industry downturns(p.73)
- • India's sovereign credit rating downgrade risk(p.73)
- • Global financial instability and geopolitical risks(p.74)
- • Inflation and cost pressures(p.75)
- • Competition Act and merger control compliance(p.76)
- • Global 3PL market expected to experience slower growth in developed economies due to monetary tightening(p.211)
- • High dependence on cyclical logistics industry vulnerable to demand destruction(p.211)
- • Global freight rates declining and logistics costs expected to shrink in developed markets(p.214)
- • Intense competition with highly fragmented logistics market and low entry barriers(p.209)
- • Economic recession expected in 2023 impacting consumer demand and logistics spending(p.214)
- • Russia-Ukraine war creating economic uncertainty and commodity price inflation pressures(p.211)
- • Intense competition from fragmented industry with commoditized segments(p.258)
- • Rising costs from fuel, labour and transportation impacting margins(p.248)
- • Global economic slowdown reducing consumer demand and logistics volumes(p.236)
- • Regulatory compliance risks including motor vehicle and environmental laws(p.261)
- • Seasonality and cyclicality in demand affecting revenue predictability(p.231)
- • UK third-party logistics market expected to decline from $37.9B (2021) to $37.2B (2026)(p.235)
- • Foreign exchange and currency volatility impacting international operations(p.231)
- • Global economic headwinds affecting international subsidiary profitability(p.326)
- • Regulatory complexities across 60 foreign subsidiaries in diverse jurisdictions(p.282)
- • Commodity price volatility affecting packaging and automotive parts logistics(p.286)
- • Foreign exchange risk from operations across multiple currency zones(p.282)
- • Competition from established global logistics providers in key markets(p.294)
- • Exposure to industry cyclicality and macroeconomic volatility(p.357)
- • Foreign exchange and currency risk affecting consolidated results(p.367)
- • Regulatory and compliance risks in multiple jurisdictions(p.359)
- • Concentration of non-controlling interests and complex capital structure(p.365)
- • Ongoing employee benefit litigation with Provident Fund authorities(p.432)
- • Contingent income tax liabilities(p.432)
- • GST and service tax exposure(p.432)
- • Macroeconomic slowdown and recessionary periods affecting customer demand and consumption(p.513)
- • Decline in global ocean and air freight rates impacting NS segment margins(p.513)
- • Technology disruption from unexpected start-ups and requirement for continuous capital investment(p.514)
- • Depreciation of Indian Rupee against foreign currencies affecting overseas revenues(p.518)
- • Contingent liabilities from tax disputes and regulatory matters(p.535)
- • Intensifying industry competition(p.544)
- • Exposure to significant economic changes and cyclicality(p.544)
- • Seasonal fluctuations in quarterly financial results(p.543)
- • Foreign currency exchange rate volatility risks(p.542)
- • Environmental remediation obligations from acquired operations(p.574)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| TVS Mobility Private Limited | Corporate Promoter | 26.36% | — |
| T.S. Rajam Rubbers Private Limited | Corporate Promoter | 16.12% | — |
| Dhinrama Mobility Solution Private Limited | Corporate Promoter | 1.31% | — |
| Ramachandhran Dinesh | Individual Promoter | 1.77% | — |
| G S Logistics Holdings Limited | Promoter | — | — |
| Zumrut Investments Limited | Promoter | — | — |
| Omega TC Holdings Pte. Ltd. | Promoter | — | — |
| Ramachandhran Dinesh | Individual Promoter | — | — |
| TVS Mobility Private Limited | Promoter | 26.36% | 24.16% |
| T.S. Rajam Rubbers Private Limited | Promoter | 16.12% | 14.78% |
| Ramachandhran Dinesh | Promoter | 1.77% | 1.62% |
| Dhinrama Mobility Solution Private Limited | Promoter | 1.31% | 1.20% |
| T. V. Sundram Iyengar & Sons Private Limited | Promoter | — | — |
| Rajam Family | Promoter Group | — | — |
| Ramachandhran Dinesh | Individual Promoter | — | — |
| TVS Mobility Private Limited | Promoter | — | — |
| T.S. Rajam Rubbers Private Limited | Promoter | — | — |
| Dhinrama Mobility Solution Private Limited | Promoter | — | — |
| Ramachandhran Dinesh | Promoter | 10.13% (in TVS Mobility) | — |
| TVS Mobility Private Limited | Promoter | 29.48% | — |
| T S Rajam Rubbers Private Limited | Promoter | 18.03% | — |
| Exor Special Opportunities Master Fund | Investor | 11.70% | — |
| Mahogany Singapore Company Pte. Ltd | Investor | 5.18% | — |
| TVS Group | Erstwhile Promoter | — | — |
Leadership
Ravi Viswanathan · Managing Director
Ramachandhran Dinesh · Executive Vice Chairman
Ravi Prakash Bhagavathula · Global Chief Financial Officer
P D Krishna Prasad · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
TVS Supply Chain Solutions IPO FAQs
What is the lot size of TVS Supply Chain Solutions IPO?
The minimum lot size of TVS Supply Chain Solutions IPO is 76 shares. One lot costs ₹14,972 at the cut-off price.
When does TVS Supply Chain Solutions IPO open and close?
TVS Supply Chain Solutions IPO opened for subscription on 10 Aug 2023 and closed on 14 Aug 2023.
What is the listing date of TVS Supply Chain Solutions IPO?
TVS Supply Chain Solutions IPO listed on 23 Aug 2023.