TVS Supply Chain Solutions Obtains Sebi Approval for IPO

televisions Supply Chain Solutions, part of TVS Mobility Group, has received the green light from financial markets regulator Sebi to raise funds through an initial public offering (IPO). THE Initial Public Offering includes a new issue of capital shares aggregating up to Rs 750 crore and an offer for sale (OFS) of more than 2 crore of capital shares by promoters and existing shareholders, according to the red herring draft prospectus.

Those offering shares in the SFO include Omega TC Holdings Pte. Ltd, Tata Capital Financial Services Ltd, Mahogany Singapore Company Pte. Ltd, TVS Motor Company Ltd, Kotak Special Situations Fund, Andrew Jones, Ramalingam Shankar, Ethirajan Balaji, Dinesh NarayanAnd Sargunaraj Ravichandran.

The company, which filed new preliminary IPO documents in April, obtained its observation letter on July 18, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday.

In Sebi’s parlance, his comments signify approval to launch the public broadcast.

According to the draft documents, the proceeds from the new issue will be used for the payment of debt incurred by the company and its subsidiaries – TVS LI UK and TVS SCS Singapore – and for general purposes.

TVS Supply Chain Solutions (TVS SCS), a provider of integrated supply chain solutions, is present in more than 25 countries.

TVS SCS is promoted by the former TVS Group and is now part of the TVS Mobility Group, which has four business areas: Supply Chain Solutions; manufacturing; car dealership, sales and after-sales service. JM FinancialAxis Capital, JP Morgan India, BNP Paribas, Edelweiss Financial Servicesand Equirus Capital are the IPO leaders.

In addition, the capital markets regulator has given the green light to Pyramid Technoplast to raise funds through an initial sale of shares. The company filed draft IPO documents in March.