TVS Supply Chain Solutions has received approval to acquire Equity shares of Wholly owned subsidiary Companies namely TVS Logistics Investments UK, TVS Logistics Investments Inc. USA and TVS Supply Chain Solutions, Singapore.
The infusion of additional capital into the wholly owned subsidiaries is towards strengthening the capital structure so as to facilitate the business growth needs and reducing the indebtedness of the respective overseas entities so as to de-leverage the company and improve the profitability. The cost of acquisition shall be an aggregate sum of up to Rs 450 crore. The inductive time period for completion of investment in overseas subsidiaries is by November 30, 2023. The Board of Directors of the Company at their meeting held on September 11, 2023, has agreed for the same.
TVS Supply Chain Solutions (TVS SCS), an integrated supply chain solutions provider, is present in over 25 countries. TVS SCS is promoted by the erstwhile TVS Group and is now part of the TVS Mobility Group, which has four business verticals -- supply chain solutions; manufacturing; auto dealership, and aftermarket sales and service.
Company Name | CMP |
---|---|
Allcargo Logistics | 65.67 |
TVS Supply Chain Sol | 168.80 |
Container Corp | 1052.80 |
Mahindra Logistics | 469.85 |
Transport Corp. | 916.15 |
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