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TVS Supply Chain Solutions is coming out with an initial public offering (IPO) to raise around Rs 880 crore. It has fixed a price band of Rs 187-197 per share. The issue will open on August 10, 2023 and will close on August 14, 2023. The equity shares are proposed to be listed on both the bourses, BSE and NSE.

Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiary TVS LI UK. Besides, funds will be used for inorganic growth strategy and general corporate purposes. JM Financial, Axis Capital, J P Morgan India, BNP Paribas, Nuvama Wealth Management and Equirus Capital are the book-running lead managers to the IPO.

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