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TVS Supply Chain Solutions, part of TVS Mobility Group, has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The IPO comprises a fresh issue of equity shares aggregating up to Rs 750 crore and an Offer for Sale (OFS) of over 2 crore equity shares by promoters and existing shareholders.

Proceeds from the fresh issue will be utilised for payment of debt availed by the company and its subsidiaries -- TVS LI UK and TVS SCS Singapore -- and for general corporate purposes. JM Financial, Axis Capital, J P Morgan India, BNP Paribas, Edelweiss Financial Services, and Equirus Capital are the book-running lead managers to the IPO.

TVS Supply Chain Solutions (TVS SCS), an integrated supply chain solutions provider, is present in over 25 countries. TVS SCS is promoted by the erstwhile TVS Group and is now part of the TVS Mobility Group, which has four business verticals -- supply chain solutions; manufacturing; auto dealership, and aftermarket sales and service.