TVS Supply Chain Solutions has submitted preliminary documents for an initial public offering (IPO) with the Securities and Exchange Board of India (SEBI).
According to the IPO documents, the company will issue fresh shares worth Rs 2,000 crore under the IPO. Apart from this, the promoters and existing investors of the company will bring an offer for sale (OFS) of 5.95 crore equity shares.
Traders say the size of the IPO will be Rs 5,000 crore. According to the documents, Rs 1,166 crore of the proceeds from the new shares will be used to pay off the debt. The company will invest Rs 75.2 crore in its strategically important subsidiaries in Germany, USA and Thailand.
Apart from this, Rs 60 crore will be infused into the company’s UK-based unit.