The company, which provides logistics services and is a part of the TVS Mobility Group, had priced its initial public offer (IPO) at 197 rupees.
The shares climbed as much as 5.9% to 208.60 rupees before paring gains but have so far in the session stayed above the IPO price. The benchmark Nifty 50 index was down 0.12%.
TVS Supply Chain's 8.8 billion rupee-IPO comprised of a fresh issue of shares worth 6 billion rupees and an offer for sale of shares worth 2.8 billion rupees from existing stakeholders, according to its prospectus.
The company provides last-mile delivery, warehouse, logistics and freight management services to sectors like automotive, defense, e-commerce, healthcare and utilities.
The listing comes on the heels of a retreat in Indian stock benchmarks from record highs due to moderating foreign investor inflows, worries over U.S. Federal Reserve's interest rate hikes and China's flagging recovery.
(Reporting by Rama Venkat in Bengaluru; editing by Eileen Soreng)
