In terms of Regulation 30 of the SEBI (LODR) Regulations and other applicable and regulations, if any, TVS Srichakra has informed that the board of directors in their meeting held today, has resolved to authorize overseas direct investment of 10 million USD for the establishment of a subsidiary in the state of Michigan, United States of America (‘USA’). This investment will encompass, through the subsidiary, an acquisition of assets, liabilities and business operations of an existing corporation, expanding its commercial activities in the USA. The Board Meeting started at 12.03 pm and concluded at 1.00 pm. The details required under regulation 30 of SEBI (LODR) Regulations, 2015 and other applicable Regulations and Circular(s) are furnished in Annexure A. This intimation is also being uploaded on the Company’s website at https://tvseurogrip.com/.
