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TVS Supply Chain, two others get Sebi’s IPO nod

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JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Edelweiss Financial Services and Equirus Capital are the bankers for the TVS Supply Chain’s IPO

TVS Supply Chain Solutions (TVS SCS) has received markets regulator Securities and Exchange Board of India (Sebi)’s nod for its proposed initial public offering (IPO). The company filed its papers with Sebi on February 11, 2022, for an IPO which consists of 2,000-crore fresh issue and an offer for sale of up to 59,477,497 equity shares. JM Financial, Axis Capital, JP Morgan India, BNP Paribas, Edelweiss Financial Services and Equirus Capital are the bankers for the issue. TVS SCS proposes to utilise the IPO proceeds for the repayment of the whole or portion of certain outstanding borrowings to the tune of1, 166 crore availed by the company and its subsidiaries — TVS LI UK and TVS SCS, Singapore. The funds will also be used to buy a minority stake from the existing shareholders of its unit Rico Logistics, UK, capitalisation of subsidiaries TVS SCS Germany, TVS LI USA and TLM Thailand and for inorganic growth initiatives.

TVS SCS is part of the TVS Mobility Group that comprises four business verticals—supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service. It offers customised solutions to customers to enable agile and efficient supply chains at large scale.

Inox Green Energy

In another development, PTI reported Inox wind arm Inox Green Energy Services’ board on Monday approved a proposal to raise 900 crore through an initial public offer (IPO). The proposed IPO will comprise fresh issuance of equity shares aggregating up to500 crore and an offer for sale (OFS) of equity shares by certain shareholders to the tune of 400 crore, Inox Wind said in a BSE filing. The public issue will be subject to market conditions, receipt of applicable approvals and other considerations. On April 20, Inox Wind announced that its arm, Inox Green Energy Services (IGESL), has decided to withdraw its proposed740 crore initial share sale offer.

Aadhar Housing Finance

Going by the draft papers, Blackstone-backed Aadhar Housing Finance, which filed preliminary papers with Sebi in January last year, is looking to raise `7,300 crore through its initial share sale, reported PTI on Monday.

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