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TVS Supply Chain soars 20% in 2 days
The Business Guardian
|September 09, 2023
The price of TVS Supply Chain Solutions' stock increased for a second day in a row on Friday, rising 9% in intraday trade to Rs 241.55 on the BSE. The stock of the recently listed logistic solution provider company has increased 20% during the last two trading days. Compared to its issue price of Rs 197 per share, it is currently trading 23% higher. On August 23, the company debuted on the stock market.
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The IPO had received a decent response as the issue was subscribed to 2.85 times overall. The retail category was subscribed 7.89 times, qualified institutional buyer (QIB) category 1.37 times, and the non institutional investor (NII) category 2.44 times. TVS Supply Chain Solutions (TVS SCS), a subsidiary of TVS Mobility Group, is a leading integrated supply chain solutions provider in India. With substantial revenue and growth in fiscal 2023, TVS SCS operates across over 25 countries - serving 8,778 global and 902 domestic clients in FY23. The company caters to diverse sectors such as automotive, industry, consumer products, technology, rail, utilities, and healthcare.
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