TVS Supply Chain IPO allotment today: Here are two ways to check your application status and GMP

TVS Supply Chain Solutions is likely to finalize the basis of allotment of its shares on Friday, August 18, 2023. The Rs 880 crore primary offering had received a mixed response from the investors during the three-day bidding process, which opened between August 10-14.

The IPO of TVS Supply Chain Solutions was sold in the range of Rs 187-197 apiece, and was overall subscribed 2.85 times. The portion for qualified institutional bidders was booked 1.37 times, while the non-institutional investors' category was subscribed 2.44 times. The quota reserved for retail investors was subscribed 7.89 times.

Grey market premium (GMP) of TVS Supply Chain Solutions has corrected sharply amid the volatile market sentiments and lower subscription levels. Last heard, TVS Supply China was commanding a premium of Rs 2 in the grey market, which was around Rs 22 on August 9, a day before the issue opened for subscription. The current grey market signal suggests a flat listing for the company.

Chennai-based TVS Supply Chain Solutions provides supply chain management services for international organizations, government departments, and large and medium-sized businesses. It offers its services in two segments namely- integrated supply chain solutions (ISCS) and network solutions (NS).

Brokerage firms had a mixed view on the issue. Select analysts suggested a 'subscribe' for the issue citing its asset-light business model, strong parentage, and growth prospects. However, a few have suggested to clearly 'avoid' the issue citing its highly rich valuations, which look more expensive compared to peers.

Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select TVS Supply Chain Solutions Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of Link Intime India Private Limited. (https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus.

Watch: RBI Udgam Portal live now: Check registration process, and how to find unclaimed deposits in SBI, South Indian Bank, PNB, other banks

The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries after the issue is completed.

1) Go to the web portal of Link Intime India Private Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.

Bidders who could not get allotment in the IPO may see the initialization of refunds on Monday, August 21. Others, who would be allotted shares may see the credit of shares, in the Demat accounts by Tuesday, August 22. The listing of the IPO is likely on Wednesday, August 23.

Watch: Auto stocks' valuations not attractive; should you buy Maruti Suzuki, Ashok Leyland, TVS Motor Company stocks on dips? What analysts say

Also read: JSW Steel tops Nifty pack in terms of earnings upgrade. Should you buy this stock? 

Also read: 140% return in 2023! Zensar Tech stock rally defies broader IT sector weakness