{"id":19095,"date":"2023-08-11T17:32:47","date_gmt":"2023-08-11T12:02:47","guid":{"rendered":"https:\/\/www.moneyworks4me.com\/investmentshastra\/?p=19095"},"modified":"2023-08-11T17:48:00","modified_gmt":"2023-08-11T12:18:00","slug":"tvs-supply-chain-solutions-ipo-review","status":"publish","type":"post","link":"https:\/\/www.moneyworks4me.com\/investmentshastra\/tvs-supply-chain-solutions-ipo-review\/","title":{"rendered":"TVS Supply Chain Solutions IPO Review"},"content":{"rendered":"<div style=\"background: #ffe6e6; border: 1px solid #ff1a1a; border-left-color: Brick tomato; border-left-style: solid; border-left-width: 15px; padding: 15px; margin-bottom: 5px; margin-top: 7px;\">\n<h2 style=\"font-size: 18px;\">TVS Supply Chain Solutions Limited IPO Details:<\/h2>\n<p><strong>Estimated Market Cap: ~8,555 Cr<\/strong><\/p>\n<p><strong>IPO Date:<\/strong> 10th August to 14th August<\/p>\n<p><strong>Total shares:<\/strong> ~4.4 Cr<\/p>\n<p><strong>Price band:<\/strong> \u20b9 187- \u20b9 197 per share<\/p>\n<p><strong>IPO Issue Size:<\/strong> ~ \u20b9 880 Cr<\/p>\n<p><strong>Lot Size:<\/strong> 76 shares and multiples thereof<\/p>\n<p><strong>Purpose of Issue:<\/strong> Fresh Issue and Offer for Sale<\/p>\n<p><strong>Recommendation:<\/strong>&nbsp;<span style=\"color: #8b4513;\"><strong> Avoid, due to expensive valuations as listed peers are available at better risk-reward<\/strong><\/span><\/p>\n<\/div>\n<h2 style=\"font-size: 18px;\">About TVS Supply Chain Solutions Limited:<\/h2>\n<p><strong><a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/transportation-logistics\/logistics\/tvs-supply-chain-sol\/company-info#ten-year-xray-anchor-link\">TVS Supply Chain Solutions<\/a><\/strong> (TSCS) is an Indian multinational, part of TVS Mobility Group, providing integrated supply chain solutions (ISCS). With over 16 years of experience, it has secured ~7% of the organized supply chain solutions market share (in terms of revenue during FY22). Catering to 70+ Fortune global customers, it has long standing relationships with Ashok Leyland, TVS Motors, Sony India, Panasonic Life Solutions and Johnson Controls-Hitachi Air Conditioning.<\/p>\n<p>The company offers solutions covering the entire value chain from sourcing to consumption and can be categorized into two segments:<\/p>\n<h3><strong>(a) Integrated Supply Chain Solutions (ISCS) include:<\/strong><\/h3>\n<ul>\n<li>Sourcing and procurement<\/li>\n<li>Integrated transportation<\/li>\n<li>Logistics operation centers<\/li>\n<li>In-plant logistics operations<\/li>\n<li>Finished goods management<\/li>\n<li>Aftermarket fulfillment<\/li>\n<li>Supply chain consulting<\/li>\n<\/ul>\n<p>The nature of business is driven by outsourcing contracts that define the scope, service levels, and pricing. These typically are multi-year contracts with select contracts ranging up to 13 years. Contribution from this segment stands at ~45% of FY23 revenues and the EBITDA margin profile is better than the NS segment (9% in FY23).&nbsp;<\/p>\n<h3><strong>Integrated Supply Chain Solutions Business Model<\/strong><\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19101 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-1024x282.png\" alt=\"integrated supply chain solutions business model\" width=\"770\" height=\"212\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-1024x282.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-600x165.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-150x41.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-768x211.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-1536x423.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-2048x564.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-270x74.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/integrated-supply-chain-solutions-business-model-370x102.png 370w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<h3><strong>(b) Network Solutions (NS) includes:<\/strong><\/h3>\n<ul>\n<li>Global forwarding solutions (GFS): End-to-end freight forwarding and distribution via air, ocean, and land. Driven by engagements that are a mix of both long-term contracts and short-term contracts.<\/li>\n<li>Warehousing and port storage with value-added services.<\/li>\n<li>Time-critical final mile solutions (TCFMS): Closed-loop logistics support including spares logistics, break-fix services, refurbishment, engineering support, courier and consignment management. Contracts are a mix of single-year and multi-year engagements.<\/li>\n<\/ul>\n<p>Contribution from this segment stands at ~55% of FY23 revenues while the EBITDA margin profile stands at ~5% in FY23.<\/p>\n<h3><strong>Network Solutions Business Model<\/strong><\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19102 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-1024x446.png\" alt=\"network solutions business model\" width=\"770\" height=\"335\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-1024x446.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-600x262.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-150x65.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-768x335.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-1536x669.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-270x118.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model-370x161.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/network-solutions-business-model.png 1879w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<h3><strong>Total revenue has ramped up (21% CAGR over FY21-23) aided by domestic expansion<\/strong><\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19114 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion.png\" alt=\"total revenue has ramped up 21% cagr over fy21-23 aided by domestic expansion\" width=\"1380\" height=\"424\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion.png 1380w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion-600x184.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion-1024x315.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion-150x46.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion-768x236.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion-270x83.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/total-revenue-has-ramped-up-21-cagr-over-fy21-23-aided-by-domestic-expansion-370x114.png 370w\" sizes=\"(max-width: 1380px) 100vw, 1380px\" title=\"\"><\/a><\/p>\n<h3><strong>Pan India presence<\/strong><\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19103 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence.png\" alt=\"pan india presence\" width=\"2404\" height=\"1141\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence.png 2404w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-600x285.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-1024x486.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-150x71.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-768x365.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-1536x729.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-2048x972.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-270x128.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/pan-india-presence-370x176.png 370w\" sizes=\"(max-width: 2404px) 100vw, 2404px\" title=\"\"><\/a><\/p>\n<h3><strong>Global Operations <\/strong><\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19104 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-1024x426.png\" alt=\"global operations\" width=\"770\" height=\"320\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-1024x426.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-600x250.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-150x62.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-768x320.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-1536x640.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-270x112.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations-370x154.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/global-operations.png 1847w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<h3><strong>TSCS is well placed to capitalize on huge opportunity size &#8211; <\/strong><\/h3>\n<p>In FY22, the domestic outsourced supply chain solutions market (excluding e-commerce) was valued at ~US$7.7 billion, which is estimated to grow to a market size of ~US$21 billion by FY27 (CAGR of ~22%). The global third-party logistics market achieved a value of US$1.4 trillion in 2021. Expected to be US$1.7 trillion by 2026 (8% CAGR from 2020 to 2026). The company&#8217;s primary global market regions outside of India encompass the United Kingdom, Europe, Asia-Pacific, and North America.<\/p>\n<p>The company&#8217;s growth strategy is underpinned by the &#8216;C3 Framework&#8217;, pivotal in achieving overall expansion. This strategy entails:<\/p>\n<ul>\n<li>Introducing new capabilities to current clients.<\/li>\n<li>Venturing into fresh geographical markets with existing clients.<\/li>\n<li>Offering current capabilities to new clientele.<\/li>\n<li>Deploying capabilities from developed markets to emerging ones, such as India and other parts of the Asia-Pacific region.<\/li>\n<\/ul>\n<h3><strong>Positives <\/strong><\/h3>\n<ul>\n<li><strong>Asset-light Operations<\/strong>&#8211; The company manages warehouses and vehicles through lease agreements with network partners. Despite lacking asset ownership, the company retains control over capacity, fleet, scheduling, routing, storage, and delivery of goods. This control empowers the company to maintain operational quality, boost performance and provide flexible, scalable solutions to meet customer demands.<\/li>\n<li><strong>Diversified sector exposure <\/strong>&#8211; The company derives its business from a diversified set of sectors which protects it from any foreseeable substantial downside from any of their customers in those industries. This decreases the chance of a major revenue slowdown that could affect the business adversely. Its customers span across industries such as Automotive, Industrial, Consumer, Tech, and Tech Infra. It has built long-term relationships over the years that can provide visibility to its revenues.<\/li>\n<\/ul>\n<p style=\"text-align: center;\"><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19105 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration-1024x420.png\" alt=\"sectorwise and customer concentration\" width=\"770\" height=\"316\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration-1024x420.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration-600x246.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration-150x61.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration-768x315.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration-270x111.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration-370x152.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sectorwise-and-customer-concentration.png 1379w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19113 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1.png\" alt=\"longterm customer relationship\" width=\"909\" height=\"245\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1.png 909w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1-600x162.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1-150x40.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1-768x207.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1-270x73.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/longterm-customer-relationship-1-370x100.png 370w\" sizes=\"(max-width: 909px) 100vw, 909px\" title=\"\"><\/a><\/p>\n<ul>\n<li><strong>Technology differentiation <\/strong>&#8211; In the face of increasing technological advancements within the logistics and supply chain domain, the company adopts a &#8216;technology-first&#8217; approach to its supply chain solutions. The primary focus lies in delivering inventive and adaptable technology solutions with the aim of streamlining customers&#8217; supply chains.<\/li>\n<\/ul>\n<p>Their technological strengths encompass two main components:<\/p>\n<ol>\n<li>Software Suite: This suite incorporates a blend of proprietary in-house technology solutions like i-Loads, Visibility, Msys, TRACE, Courier Alliance, LCL Consolidated, and e-Connect. Additionally, it incorporates external third-party technologies like CargoWise.<\/li>\n<li>Technology Infrastructure: Their technology framework is fortified by essential elements such as the smart center control tower, development centers, and dedicated &#8216;Centers of Excellence&#8217;.<\/li>\n<\/ol>\n<p><strong>Strong acquisition history <\/strong>&#8211; TVS supply chain solutions boasts a successful track record of inorganic growth through strategic acquisitions to strengthen their capabilities and broaden customer reach. It has acquired more than 20 companies over the past 16 years across Europe, the United Kingdom, the United States, and Asia Pacific (including India).<\/p>\n<p>Notable acquisitions such as Rico Logistics Ltd (UK), Multipart Holding Ltd, Wainwright Industries Inc., and several others have enriched the company&#8217;s portfolio with diverse capabilities including production support logistics, time-critical final mile services, and integrated supply chain solutions. Moreover, the company&#8217;s technological ability has been hoisted through acquisitions like I-Loads and Msys, further cementing its leadership in the industry.<\/p>\n<h3><strong>Acquisition history with C3 framework<\/strong><\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19107 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework.png\" alt=\"acquisition history with c3 framework\" width=\"1376\" height=\"637\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework.png 1376w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework-600x278.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework-1024x474.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework-150x69.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework-768x356.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework-270x125.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/acquisition-history-with-c3-framework-370x171.png 370w\" sizes=\"(max-width: 1376px) 100vw, 1376px\" title=\"\"><\/a><\/p>\n<h4><strong>Concerns:<\/strong><\/h4>\n<ul>\n<li><strong>Foreign currency risk:<\/strong> The company faces foreign currency risk due to non-Indian Rupee loans, trade receivables, trade payables, and export revenue exposure. In FY21\/22\/23, revenue from the rest of the world segment contributed 76.87%, 73.66%, and 70.43% of the total revenue. In FY21\/22\/23, foreign currency loans were Rs. 1,282 Crores, Rs. 1405 Crores, and Rs. 1229 Crores, respectively, accounting for 82.83%, 79.64%, and 61.77% of their total consolidated borrowings. While the company has a hedging policy in place, it doesn\u2019t fully mitigate the risk.&nbsp;<\/li>\n<li><strong>Related party transactions:<\/strong> The Company engages in various transactions with related parties as a part of regular business operations. These transactions primarily involve revenue from logistic services and certain operational expenses like rent. The percentages of related party transactions to the company\u2019s consolidated revenue during FY21\/22\/23 were 5.19%, 5.22%, and 2.10%, respectively.<\/li>\n<\/ul>\n<h3><strong>Competitors <\/strong><\/h3>\n<p style=\"text-align: center;\"><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-19108 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors.png\" alt=\"competitors\" width=\"1008\" height=\"335\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors.png 1008w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors-600x199.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors-150x50.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors-768x255.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors-270x90.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/competitors-370x123.png 370w\" sizes=\"(max-width: 1008px) 100vw, 1008px\" title=\"\"><\/a><\/p>\n<h3><strong>Performance<\/strong><\/h3>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19109 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations-1024x381.png\" alt=\"value creations\" width=\"770\" height=\"286\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations-1024x381.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations-600x223.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations-150x56.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations-768x286.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations-270x100.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations-370x138.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/value-creations.png 1379w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19110 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-1024x348.png\" alt=\"cagr\" width=\"770\" height=\"262\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-1024x348.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-600x204.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-150x51.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-768x261.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-1536x523.png 1536w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-2048x697.png 2048w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-270x92.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/cagr-370x126.png 370w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19111 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters-1024x247.png\" alt=\"key financial parameters\" width=\"770\" height=\"186\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters-1024x247.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters-600x145.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters-150x36.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters-768x185.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters-270x65.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters-370x89.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/key-financial-paramaters.png 1379w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<p><a class=\"gridlove-popup-img\" href=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe.png\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter wp-image-19112 size-large\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe-1024x579.png\" alt=\"sales roe\" width=\"770\" height=\"435\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe-1024x579.png 1024w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe-600x339.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe-150x85.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe-768x434.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe-270x153.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe-370x209.png 370w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/08\/sales-roe.png 1379w\" sizes=\"(max-width: 770px) 100vw, 770px\" title=\"\"><\/a><\/p>\n<h3><strong>Management <\/strong><\/h3>\n<p><strong>R Dinesh<\/strong> is the Executive Vice Chairman, a commerce graduate, and an associate member of the Institute of Chartered Accountants of India and the Institute of Cost &amp; Works Accountants of India. He is the director at Ki Mobility Solutions that operates myTVS brand. He is the president of CII National Council, chairman of the CII National Committee on Logistics, and chairs CII Institute of Logistics Advisory Council.<\/p>\n<p><strong>Ravi Viswanathan<\/strong> is the Managing Director. He holds a bachelor\u2019s degree in electronics and communications engineering from the University of Madras with over 30 years of experience in the technology industry. Prior to joining, he has been associated with the TATA group for over 29 years holding various positions. He was formerly the president of the Madras Management Association, a member of the board of governors of the NIT, Tiruchirapalli, and has been part of the Executive Council of NASSCOM.<\/p>\n<p><strong>Kameswaran Sukumar<\/strong> is CEO of domestic operations. He holds a bachelor\u2019s degree in technology on metallurgical engineering from IIT, Madras, and a PGDM from IIM, Ahmedabad. He has 27 years of experience in strategy development and operations. Prior to joining TSCS, he has worked with Maruti Udyog, Airtel as head &#8211; market planning, Tata Teleservices as senior VP, the consumer market business unit, AFL Private as CEO &#8211; express division which was acquired by FedEx Express.<\/p>\n<p><strong>Jonathan Croyden<\/strong> is the CEO of Rico group (subsidiary- UK operations). He joined the company as the head of technical services &#8211; Europe. He holds a national certificate of engineering from Windsor and Maidenhead College. He has several years of experience in technology products and services industry. He has worked with Siemens Nixdorf Information Systems Ltd as a repair engineer, Seimens Business Services Ltd as a customer engagement manager, Fujitsu- Siemens Computers IT Product Services as the head of the remote services group, and Fujitsu Services as operations director.<\/p>\n<p><strong>Ravi Prakash Bhagavathula<\/strong> is the Global CFO and holds a bachelor\u2019s degree in mechanical engineering from Andhra University and an MBA from the University of Delhi. He has over 26 years of experience in finance and strategy. Prior to joining, he worked with Pfizer Ltd as finance director, the Coca-Cola group in various capacities, Procter &amp; Gamble India as assistant manager, and Steel Authority of India as junior manager.<\/p>\n<div style=\"border: 2px solid #cccc00; padding: 10px; background-color: #ffff99; border-radius: 30px;\">\n<h2 style=\"font-size: 18px;\"><span style=\"text-decoration: underline;\">Opinion :<\/span><\/h2>\n<p>TVS supply chain solutions has an asset-light business model with a diversified customer base and seamless technology offering. We are cautious due to (a) low return ratios, (b) the company turned back profitable last year, (c) headwinds in foreign markets (70%+ of revenues), and (d) multiple levels of execution efficiency requirement. While we maintain optimism about developments in the logistics sector due to the formalization of the sector and outsourcing opportunities, currently, listed peers provide a more favorable risk-reward proposition.<\/p>\n<p><strong>Recommendation: <\/strong>Avoid, due to expensive valuations as listed peers are available at better risk-reward.<\/p>\n<p><span style=\"text-decoration: underline;\"><strong>Note:<\/strong> <\/span>We do not recommend buying just because the IPO market is hot. We do not earn any commission or fee for promoting IPOs so expect an honest review from us on a business model and valuation.<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/payment\/index\/subscribe?from=investmentshastra-blog-ipo\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone wp-image-18657 size-full\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner.png\" alt=\"core 50 superstars banner\" width=\"850\" height=\"251\" srcset=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner.png 850w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-600x177.png 600w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-150x44.png 150w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-768x227.png 768w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-270x80.png 270w, https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2023\/04\/core-50-superstars-banner-370x109.png 370w\" sizes=\"(max-width: 850px) 100vw, 850px\" title=\"\"><\/a><\/p>\n<h2 style=\"font-size: 18px; background-color: #7e7d7d; padding-left: 5px; margin-top: 10px; margin-bottom: 10px;\"><span id=\"time-table\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">TVS Supply Chain Solutions Limited IPO Tentative Timetable:<\/span><\/span><\/h2>\n<table width=\"620\">\n<tbody>\n<tr>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>IPO Activity<\/strong><\/td>\n<td style=\"background-color: #03acc7; color: white; text-align: center;\"><strong>Date<\/strong><\/td>\n<\/tr>\n<tr>\n<td>IPO Open Date<\/td>\n<td style=\"text-align: center;\">August 10, 2023<\/td>\n<\/tr>\n<tr>\n<td>IPO Close Date<\/td>\n<td style=\"text-align: center;\">August 14, 2023<\/td>\n<\/tr>\n<tr>\n<td>Basis of Allotment Date<\/td>\n<td style=\"text-align: center;\">August 18, 2023<\/td>\n<\/tr>\n<tr>\n<td>Refunds Initiation<\/td>\n<td style=\"text-align: center;\">August 21, 2023<\/td>\n<\/tr>\n<tr>\n<td>A credit of Shares to Demat Account<\/td>\n<td style=\"text-align: center;\">August 22, 2023<\/td>\n<\/tr>\n<tr>\n<td>IPO Listing Date<\/td>\n<td style=\"text-align: center;\">August 23, 2023<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"font-size: 18px; background-color: #7e7d7d; padding-left: 5px; margin-top: 10px; margin-bottom: 10px;\"><span id=\"time-table\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">Retail Individual Investor IPO Lot Size:<\/span><\/span><\/h2>\n<table class=\"table table-condensed table-bordered table-striped table-nonfluid\">\n<thead>\n<tr>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Application<\/th>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Lots<\/th>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Shares<\/th>\n<th style=\"background-color: #03acc7; color: white; text-align: center;\">Amount<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"text-align: center;\">Minimum<\/td>\n<td style=\"text-align: center;\">1<\/td>\n<td style=\"text-align: center;\">76<\/td>\n<td style=\"text-align: center;\">\u20b9 14,972<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\">Maximum<\/td>\n<td style=\"text-align: center;\">13<\/td>\n<td style=\"text-align: center;\">988<\/td>\n<td style=\"text-align: center;\">\u20b9 194,636<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 style=\"font-size: 18px; background-color: #7e7d7d; padding-left: 5px; margin-top: 10px; margin-bottom: 10px;\"><span id=\"faq\" class=\"sta-anchor \" aria-hidden=\"true\"><span style=\"color: #ffffff;\">TVS Supply Chain Solutions Limited IPO FAQs:<\/span><\/span><\/h2>\n<h3>When will the TVS Supply Chain Solutions Ltd IPO open?<\/h3>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/transportation-logistics\/logistics\/tvs-supply-chain-sol\/company-info#ten-year-xray-anchor-link\">TVS Supply Chain Solutions&nbsp;Ltd<\/a> IPO will open for subscription on Thursday, 10<sup>th<\/sup> August 2023, and closes on Monday 14<sup>th<\/sup> August 2023.<\/p>\n<h3>What is the price band of TVS Supply Chain Solutions Ltd IPO?<\/h3>\n<p>The price band for TVS Supply Chain Solutions IPO is Rs. 187-197\/share.<\/p>\n<h3>What is the lot size for the TVS Supply Chain Solutions Ltd IPO?<\/h3>\n<p>Retail investors can subscribe to the IPO minimum lot size is 76 shares, up to a maximum of 13 lots i.e. Rs. 1,94,636\/-.<\/p>\n<h3>What is the issue size of TVS Supply Chain Solutions Ltd IPO?<\/h3>\n<p>The total issue size is ~ Rs. 880 Cr.<\/p>\n<h3>When will the basis of allotment be out?<\/h3>\n<p>Allotment will be finalized on August 18<sup>th<\/sup> and refunds will be initiated by August 21<sup>st<\/sup>. Shares allotment will be credited in Demat accounts by August 17<sup>th<\/sup>.<\/p>\n<h3>What is the listing date of TVS Supply Chain Solutions Ltd\u2019s IPO?<\/h3>\n<p>The tentative listing date of <a href=\"https:\/\/www.moneyworks4me.com\/indianstocks\/small-cap\/transportation-logistics\/logistics\/tvs-supply-chain-sol\/company-info#ten-year-xray-anchor-link\">TVS Supply Chain Solutions IPO<\/a> is August 23<sup>th&nbsp;<\/sup>&nbsp;2023.<\/p>\n<h3>What if I do not get the allotment?<\/h3>\n<p>If you do not get an allotment of this IPO we recommend you to check out our&nbsp;<a href=\"https:\/\/www.moneyworks4me.com\/payment\/index\/subscribe\"><strong>MoneyWorks4me Core Superstars<\/strong>&nbsp;<\/a>which helps you build a strong portfolio right away. It offers a Model Portfolio of high-quality stocks Buy\/Sell alerts on Quality stocks at a reasonable price and SIP recommendations on stocks. With the help of MoneyWorks4me Core Superstars, you would have picked winners like Asian Paints, Divis Labs, Titan, Pidilite, Cipla, Bharti Airtel, and ICICI Bank.<\/p>\n<p><strong><span style=\"text-decoration: underline;\">Best Stocks From<\/span>:<\/strong><\/p>\n<p><a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/stock-market\/stock-screener\/best-from-nifty-50\">Undervalued Nifty 50<\/a> &nbsp;<a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/stock-market\/stock-screener\/nifty-500-quality-with-price-strength\">Nifty 500 &#8211; Quality with Price Strength<\/a>&nbsp;<a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/stock-market\/stock-screener\">Screener<\/a> <a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/alpha-case\">Alpha Cases<\/a>&nbsp; &nbsp;<a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/stock-market\/stock-screener\/5-stars-rated-companies-by-moneyworks4me\">5 Stars Rated Stocks from Nifty 500<\/a> <a class=\"fasc-button fasc-size-medium fasc-type-flat fasc-rounded-medium\" style=\"background-color: #1eaf6d; color: #ffffff;\" target=\"_blank\" rel=\"noopener\" href=\"https:\/\/www.moneyworks4me.com\/stock-market\/business-houses\/\">Business Houses Group<\/a><\/p>\n<hr>\n<p><a href=\"https:\/\/www.moneyworks4me.com\/\"><img decoding=\"async\" style=\"float: left; height: 100px; padding-right: 16px; margin-left: 40px;\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2021\/07\/logo-mw4me.png\" alt=\"\" title=\"\"> <\/a> <a class=\"hide-mobile\" href=\"https:\/\/t.me\/mw4me\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" style=\"float: left; height: 100px; padding-right: 16px;\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2018\/05\/investments-shastra-blog.png\" alt=\"\" title=\"\"> <\/a><\/p>\n<div class=\"hide-mobile\" style=\"height: 100px; padding-top: 15px;\"><strong style=\"font-size: 15px; color: #32aadf;\">Join our Telegram Channel:<\/strong><br \/>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/fundamentalstockinvesting\">Stock Investing<\/a><br \/>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/mutualfundinvesting\">Mutual Fund Investing<\/a><\/div>\n<p>&nbsp;<\/p>\n<div class=\"hide-desktop\" style=\"float: left; width: 100%; text-align: center; padding-bottom: 15px;\"><a href=\"https:\/\/t.me\/mw4me\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" style=\"height: 100px;\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2018\/05\/investments-shastra-blog.png\" alt=\"\" title=\"\"><\/a><br \/>\n<strong style=\"font-size: 15px; color: #32aadf;\">Join our Telegram Channel:<\/strong><br \/>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/fundamentalstockinvesting\">Stock Investing<\/a><br \/>\n<a style=\"text-decoration: underline; font-size: 14px;\" href=\"https:\/\/t.me\/mutualfundinvesting\">Mutual Fund Investing<\/a><\/div>\n<div style=\"text-align: center;\">\n<p><span style=\"color: #0070c0;\"><b>Need help on Investing? And more<\/b><b>\u2026.<\/b><b>Puchho<\/b> <b>Befikar<\/b><\/span><\/p>\n<div class=\"puchhoBefikarIcon\"><img decoding=\"async\" loading=\"lazy\" class=\"\" src=\"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-content\/uploads\/2018\/05\/puchho-befikar-logo.png\" width=\"59\" height=\"46\" alt=\"\" title=\"\"><\/div>\n<p><b><i><\/i><\/b><a href=\"https:\/\/www.youtube.com\/watch?v=iqqbuJbMlk4 \" target=\"_blank\" rel=\"noopener\">Why MoneyWorks4me<\/a> | Call: <a href=\"tel:+91 20 6725 8333\">020 6725 8333<\/a> | <a href=\"https:\/\/www.moneyworks4me.com\/dashboard\/sensible-investing\/books\/how-the-heck-to-invest-and-reach-nirvana\" target=\"_blank\" rel=\"noopener\">Ebook<\/a>&nbsp;| WhatsApp: <a href=\"https:\/\/api.whatsapp.com\/send?phone=918055769463&amp;text=Need%20any%20help?\" target=\"_blank\" rel=\"noopener\">9860359463<\/a><\/p>\n<p style=\"text-align: left;\"><strong>*<\/strong>Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.<\/p>\n<p style=\"text-align: left;\"><strong>*Disclaimer:<\/strong> The securities quoted are for illustration only and are not recommendatory<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TVS Supply Chain Solutions Limited IPO Details: Estimated Market Cap: ~8,555 Cr IPO Date: 10th August to 14th August Total shares: ~4.4 Cr Price band: \u20b9 187- \u20b9 197 per share IPO Issue Size: ~ \u20b9 880 Cr Lot Size: 76 shares and multiples thereof Purpose of Issue: Fresh Issue and Offer for Sale Recommendation:&nbsp; [&hellip;]<\/p>\n","protected":false},"author":2889,"featured_media":19098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"no","_lmt_disable":"no","footnotes":""},"categories":[1166,822],"tags":[],"modified_by":"MoneyWorks4me","_links":{"self":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/19095"}],"collection":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/users\/2889"}],"replies":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/comments?post=19095"}],"version-history":[{"count":0,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/posts\/19095\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media\/19098"}],"wp:attachment":[{"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/media?parent=19095"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/categories?post=19095"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.moneyworks4me.com\/investmentshastra\/wp-json\/wp\/v2\/tags?post=19095"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}