TVS Motor Company has signed a share purchase agreement on May 16, 2022 with Fabric IOT (Fabric IOT) and Intellicar Telematics (Intellicar), a wholly owned subsidiary of TVS Motor, to divest the entire shareholding (100%) of TVS Motor in Intellicar to Fabric IOT as per the terms of the agreement. Post the transaction, Intellicar and its wholly-owned subsidiary, Intellicar Singapore, will cease to be subsidiaries of TVS Motor.
TVS Motor Company is a reputed two and three-wheeler manufacturer.