TVS Supply Chain shares debut with over 5% premium

Shares of TVS Supply Chain Solutions Ltd, part of TVS Mobility Group, began the trade with a premium of over 5% against the issue price of ₹197 on its debut trade on Wednesday.

The stock listed at ₹206.30, up 4.72% from the issue price on the BSE. It later jumped 5.83% to ₹208.50.

At the NSE, it began the trade at ₹207.05, registering a gain of 5.10%. The stock further rallied 5.88% to ₹208.60.

The company commanded a market valuation of ₹8,791.94 crore in morning deals.

The Initial Public Offering (IPO) of TVS Supply Chain Solutions was subscribed 2.78 times last week.

The ₹880-crore IPO had a price range of ₹187-197 per share.

TVS Supply Chain Solutions is present in over 25 countries. The company is promoted by erstwhile TVS Group and is now part of TVS Mobility Group, which has four business verticals — supply chain solutions, manufacturing, auto dealership, and aftermarket sales and service.