TVS Supply Chain Solutions submitted its preliminary IPO papers in April and received the observation letter from Sebi on July 18, signifying approval to proceed with the public issue. The funds raised from the fresh issue will be utilized to repay the company’s debt and that of its subsidiaries, namely TVS LI UK and TVS SCS Singapore, as well as for general corporate purposes.

TVS Supply Chain Solutions operates as an integrated supply chain solutions provider in over 25 countries. Originally promoted by the TVS Group, it is now part of the larger TVS Mobility Group, which consists of four business verticals: supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service.

The book-running lead managers for the IPO include JM Financial, Axis Capital, J P Morgan India, BNP Paribas, Edelweiss Financial Services, and Equirus Capital. The IPO approval process also extended to Pyramid Technoplast, another company seeking to raise funds through an initial share-sale.

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