TVS Supply Chain shares settle 2% higher in debut trade

New Delhi: Shares of TVS Supply Chain Solutions Ltd, a part of TVS Mobility Group, ended with a premium of 2 per cent against the issue price of Rs 197 on the debut trade on Wednesday.

The stock was listed at Rs 206.30, up 4.72 per cent from the issue price on the BSE. During the day, it jumped 5.83 per cent to Rs 208.50.

Shares of the company ended at Rs 200.95, rising by 2 per cent.

At the NSE, it began the trade at Rs 207.05, registering a gain of 5.10 per cent. During the day, the stock rallied 5.88 per cent to Rs 208.60 before settling at Rs 201.10, registering an increase of 2 per cent.

The company commanded a market valuation of Rs 8,789.75 crore.

In terms of traded volume, 17.59 lakh shares were traded at the BSE and over 2.41 crore shares at the NSE during the day.

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

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

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