TVS Holdings has received Boards’ approval for the acquisition of 80.74% equity stake of Home Credit India Finance (Home Credit India) for Rs 554 crore (Proposed Transaction). The remaining 19.26% of the equity stake will be purchased by Premji Invest and other associates. Upon signing of a Sale and Purchase Agreement, TVS Holdings and Home Credit shall proceed to obtain approvals from the Competition Commission of India and the Reserve Bank of India, respectively, for the Proposed Transaction.
This acquisition aligns with the strategy of TVS Holdings Group to play a leading role in deepening the financial penetration in India. Given the Group’s strength in financial services, there are several areas of synergies to be realized, including, collections, cost efficiencies, in-house digital and analytics capabilities, and cross-sell. Home Credit will operate as a subsidiary of TVS Holdings, maintaining its brand identity and focus on its unique customer segment, while benefiting from the resources and support of TVS Holdings Group. The Board of Directors of the Company at its meeting held on May 10, 2024, has approved the same.
TVS Holdings (Formerly known as Sundaram-Clayton) manufactures non-ferrous gravity and pressure die castings.
Company Name | CMP |
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SamvardhanaMotherson | 151.20 |
TVS Holdings | 11500.00 |
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UNO Minda | 848.70 |
Varroc Engineering | 556.70 |
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