TSC India lists at 2.86% discount

New Delhi, July 30, 2025 (Wednesday) – TSC India Limited had a rather weak debut on the NSE Emerge platform today at ₹68.00 per share, roughly 2.86% lower than the IPO issue price of ₹70 per share.

By 11:30, the stock recovered further and reached the day’s high (so far) of ₹71.20 (1.71% higher than the listing price). The trading volumes have been quite high (over 13 lakh shares traded).

IPO Recap

TSC India’s IPO, which ran from July 23 to July 25, received an overwhelming response with 68.28 times subscription. The issue attracted strong interest across all categories:

• Retail Oversubscription: 66.65x
• NII Oversubscription: 98.75x
• QIB Oversubscription: 40.15x

The price band was ₹68–₹70 per share, and the allotment was finalized on July 28.

FY25 Financial Performance

TSC India posted strong FY25 numbers with ₹25.78 crore in revenue and ₹4.93 crore net profit, reflecting a healthy ~19% margin. Its EPS stood at ₹5.07, implying a reasonable P/E of ~13.8x at the IPO price of ₹70. The company also reported a robust ROE of 31.13% and ₹805.88 crore in GTV. Despite these figures, the stock debuted at ₹68 and slipped further due to SME platform listing, low liquidity, and cautious investor sentiment.

Company Overview

TSC India is a technology-driven supply chain solutions provider specializing in procurement, logistics, and digital transformation services. The company operates on a platform-based model, enabling efficient sourcing and distribution across various sectors. It supports high-volume transactions despite operating at a relatively small revenue scale.

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations