TVS Supply Chain Solutions, Srivari Spices IPOs to open this week. Check details

Action in the primary market is expected to remain high next week as well. The mainboard initial public offering (IPO) of TVS Supply Chain Solutions will open on Thursday, July 10. In the SME space, Srivari Spices and Foods will launch its public issue on Monday, August 7. Investors will also have the opportunity to subscribe to the ongoing issues viz. Concord Biotech, SBFC Finance, Yudiz Solutions and Sangani Hospitals when trading resumes on Monday.

Here’s all you need to know about the upcoming and ongoing IPOs:

Mainboard IPO: TVS Supply Chain Solutions
The issue will open for public subscription on August 10 and close on August 14. The allocation to anchor investors will be done on August 9. The offer comprises a fresh equity issue of up to Rs 600 crore and an offer for sale (OFS) of 1.42 crore units by selling shareholders. The company, in consultation with the book-running lead managers, has undertaken a pre-IPO placement and accordingly, the fresh issue size has been reduced from Rs 750 crore.

Under the OFS, Omega TC Holdings will offload 1.07 crore shares, Tata Capital Financial will sell 9.84 lakh. Other selling shareholders include Sargunaraj Ravichandran, Andrew Jones, Ramalingam Shankar, Ethirajan Balaji, and TVS Motor Co, among others.

TVS Supply Chain Solutions (TVS SCS), an integrated supply chain solutions provider, has a presence in over 25 countries. It is promoted by the erstwhile TVS Group and is now a part of the TVS Mobility Group, which has four business verticals — supply chain solutions, manufacturing, auto dealership and aftermarket sales and service.

SME IPO: Srivari Spices and Foods
The issue will open on Monday, August 7 and close on Wednesday, August 9. The price band of the issue has fixed at Rs 40-42 per share. The issue is a 100% book-building offer with a lot size of 3,000 shares and a maximum subscription amount for retail investors at Rs 200,000. The book-running lead manager (BRLM) is Gyr Capital Advisors Private Limited and the sponsor bank is ICICI Bank. The IPO issue size is of 21.42 lakh equity shares and anchor allocation of 606,000 equity shares.

Srivari Spices is engaged in the business of manufacturing spices and flour. The company was incorporated in 2019. It markets and sells its products and operates primarily in and around Telangana and Andhra Pradesh.

Ongoing Issues

1) SBFC Finance
The issue which opened on August 3 ends on Monday. The offer price is at Rs 54-57. The issue has been oversubscribed 7.09 times with the retail portion garnering 4.93 times bids. The non-institutional investors (NIIs) have subscribed the issue by 12.95 times as on August 4 while the qualified institutional buyers’ (QIBs) portion has received 6.71 times subscription.

2) Concord Biotech
The issue opened on Friday and will end on Tuesday, August 8. The price band is at Rs 705-741. The issue opened with a lacklustre response with a total subscription of 0.58 times. The retail investors have subscribed 72% of the total 7,320,479 shares allocated for the retail category. The NIIs have fully subscribed the issue while the QIB portion has been subscribed just 0.01 times.

3) Yudiz
In the SME space, Yudiz IPO will close on Tuesday, August 8. The issue, which opened on Friday, has a price band put of Rs 162-165 per equity share. The issue has been subscribed 0.81 times.

The company intends to raise Rs 41.8 crore via its IPO. Narnolia Financial Services is the lead manager, and Mas Services is the registrar of the issue.

4) Sangani Hospitals
Sangani Hospitals IPO will also end on Tuesday, August 8. The issue which opened on Friday is a book-building issue, with a share price band of Rs 37-40 per equity share. The issue has been subscribed 0.76 times.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)