TVS Motor Company’s wholly-owned subsidiary -- Sundaram Auto Components (SACL) has sold 50.05% equity stake in Sundaram Holding USA Inc., USA (SHUI), to Sundaram-Clayton (SCL). Subsequent to the above, SHUI has ceased as a subsidiary of SACL and also of the company and consequently SHUI’s subsidiaries in USA viz., Green Hills Land holding, Component Equipment Leasing, Sundaram-Clayton USA and Premier Land Holding have also ceased as subsidiaries of the Company. Consideration received from such sale/disposal is Rs 317.01 crore.
TVS Motor Company is a reputed two and three-wheeler manufacturer.