TVS Supply Chain Solutions IPO
TVS Supply Chain Solutions Limited (TVSSCS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 23 August 2023.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -5.9% (likely range -11% to -1%), day's high +0.8%, chance of a gain 20%. Actual: +5.1% at the open, +5.9% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,35,47,601 | 1,83,33,632 | 1.35x | |
| NII (HNI) total | 69,44,813 | 1,63,50,564 | 2.35x | |
| Big NII (above ₹10 lakh) | 46,29,875 | 1,06,56,872 | 2.30x | |
| Small NII (₹2-10 lakh) | 23,14,938 | 56,93,692 | 2.46x | |
| Retail | 46,29,875 | 3,52,31,244 | 7.61x | |
| Total | 2,51,22,289 | 6,99,15,440 | 2.78x |
Bids on NSE and BSE together, as published by NSE, as of 14 Aug 2023, 07:00 PM. Shares offered exclude the anchor portion. 44% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to TVS Supply Chain Solutions's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Tamilnad Mercantile BankSep 2022 | 1.62x | 2.94x | 6.48x | 2.86x | ₹808 Cr | -2.9% | +1.0% |
| Bharat Road NetworkSep 2017 | 1.33x | 1.63x | 5.69x | 1.81x | ₹1,276 Cr | 0.0% | +6.8% |
| Veranda Learning SolutionsMar 2022 | 2.02x | 3.87x | 10.8x | 3.53x | ₹325 Cr | -8.8% | -4.2% |
| Shriram PropertiesDec 2021 | 1.85x | 4.82x | 12.7x | 4.60x | ₹627 Cr | -23.7% | -9.8% |
| Suryoday Small Finance BankMar 2021 | 2.18x | 1.31x | 3.09x | 2.37x | ₹582 Cr | -4.3% | -2.8% |
| Tracxn TechnologiesOct 2022 | 1.66x | 0.80x | 4.87x | 2.01x | ₹309 Cr | +5.6% | +25.0% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| JM Financial | 109 | +22.8% | 75% |
| Axis Capital | 107 | +20.4% | 73% |
| J. P. Morgan India | 27 | +17.4% | 74% |
| BNP Paribas | 10 | +10.5% | 50% |
| Nuvama Wealth Management | 35 | +11.9% | 66% |
| Equirus Capital | 34 | +21.3% | 74% |
Offer documents (NSE)
Frequently asked
What is the TVS Supply Chain Solutions IPO price band and lot size? ₹187–197 per share, with a lot of 76 shares, so the smallest retail bid is ₹14,972.
How many times has it been subscribed? 2.78x overall: QIB 1.35x, NII 2.35x, retail 7.61x.
How did it list? It opened at ₹207, +5.1% against the issue price of ₹197, and closed its first day +2.0%.
