TVS Holdings’ subsidiary -- Emerald Haven Realty (EHRL) has entered into a Share Purchase agreement (SPA) on May 02, 2024 with Broadcom PCC (Broadcom) and Emerald Haven Towers (EHTL), for purchase of 32,31,611 equity shares of Rs 10 each of EHTL held by Broadcom.
Consequent to the above, the shareholding of EHRL in EHTL will increase from 89.23% to 100%, thereby making it a wholly owned subsidiary of EHRL and the Company. The cost of acquisition is Rs 10.50 crore.
EHTL is engaged in the business of real estate development and further acquisition is made with the object of making EHTL a wholly owned subsidiary of EHRL.
TVS Holdings (Formerly known as Sundaram-Clayton) manufactures non-ferrous gravity and pressure die castings.
