TVS Supply Chain IPO: Latest GMP, subscription status. Apply or not?

TVS Supply Chain IPO: The Initial Public Offering (IPO) of TVS Supply Chain Solutions Ltd opened for bidding on 10th August 2023 and it will remain open for bidding till 14th August 2023. This means, TVS Supply Chain IPO subscription will end on Monday next week. After two days of bidding, the public issue worth ₹880 crore has been subscribed 1.03 times whereas its retail portion has been subscribed 3.62 times.

Meanwhile, after two days of bidding, grey market mood has gone upside as the issue has been fully subscribed despite weak stock market sentiments.

TVS Supply Chain IPO GMP today

According to market observers, TVS Supply Chain solutions IPO GMP (grey market premium) has surged to ₹25, which was ₹20 on Friday. They said that grey market premium has risen despite weak stock market sentiments, which is a good sign in regard to grey market mood. They said that grey market mood may go further upside once there is trend reversal on Dalal Street.

TVS Supply Chain IPO subscription status

After two days of bidding, the public issue has been subscribed 1.03 times whereas its retail portion has been subscribed 3.62 times. The NII portion of the book build issue has been subscribed 1.02 times.

TVS Supply Chain IPO review

Giving ‘subscribe’ tag to TVS Supply Chain IPO, Geojit Securities research report says, "At the upper price band of ₹197, TVS SCS is available at a P/E of 209x (FY23), which appears aggressively priced compared to peers. However, favourable factors include the fragmented Indian logistics market, growth potential for organized players, post-GST logistics focus, and outsourcing trends. TVS SCS's asset-light approach, diverse global services, long-term contracts, and integrated capabilities position it well for growth. We assign a "Subscribe" rating for the issue on a short-to medium-term basis."

Canara Bank Securities has given ‘subscribe’ tag to the public issue citing, "The company has been looking to expand its customer base in new age industries such as EV, Healthcare Tech and Clean Energy. It has witnessed a trending revenue growth in both its segments, which are integrated supply chain solutions and network solutions backed with higher single digit EBITDA margin and increasing ROCE and RONW. The issue is available at a premium valuation vis a vis its peers. However, we believe that its capabilities in the logistics space with its ability to expand network with a strong promoter backing and supportive government policies make its upcoming issue attractive. We recommend to SUBSCRIBE the issue for long term."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.