TVS Supply Chain Solutions, part of the TVS Mobility Group, has secured approval from the Indian capital markets regulator, the Securities and Exchange Board (Sebi), to launch an initial public offering (IPO) to raise capital. The IPO consists of a fresh equity issue, aiming to raise up to INR7.5bn ($103m) and an offer for sale of more than two million equity shares by existing shareholders. TVS said it plans to use the IPO proceeds to repay debt and for general corporate expenses. TVS SCS is an integrated supply chain solutions provider that operates in more than 25 countries.
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