TVS Motor Company has acquired the entire stake in TVS Motor Services (TVS MS), through which Non-Banking Finance Company (NBFC) TVS Credit Services will become the subsidiary of the company. The investment in the target company would continue to benefit the company in financing its customers for the purchase of products. The company has acquired the same for Rs 4.62 crore.
TVS MS, incorporated in March 23, 2009, has recorded a turnover of Rs 24,000 in 2017, compared to Rs 37,000 in 2016 and Rs 9,54,975 in 2015, while TVS Motor Company is a leading two and three-wheeler manufacturer, and is the flagship company of the TVS Group.