Business

9 months ago

TVS Supply Chain Solutions makes muted debut on bourses, lists with 5% premium

TVS company (symbolic picture)
TVS company (symbolic picture)

 

IIE Digital Desk : TVS Supply Chain Solutions, the logistics arm of TVS Group, made a muted debut on the stock exchanges on Wednesday, listing with a 5% premium to its issue price of Rs 197 per share. The stock opened at Rs 207.05 on the National Stock Exchange (NSE) and touched a high of Rs 208.50, but soon pared gains to trade at Rs 206.70 at 10:15 am. The company raised Rs 880 crore through its initial public offering (IPO), which was subscribed 1.59 times.

TVS Supply Chain Solutions provides a wide range of supply chain management services, including transportation, warehousing, and freight forwarding. It has a presence in over 20 countries and serves a diverse range of customers, including Fortune 500 companies. The company's muted debut on the bourses could be attributed to the weak market sentiment and the recent sell-off in the broader market. However, analysts believe that the stock has long-term growth potential and could be a good investment for investors with a medium to long-term horizon.


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