TVS Srichakra has informed that pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), and in continuation of earlier disclosure dated 28th November, 2024, regarding the intimation of the Company receiving 9,11,741 equity shares representing 7.58% of the paid up equity share capital of TASL Automobile Solutions (TASL Automobile), a Promoter Group Company TASL Automobile had initiated a Composite Scheme of Selective Capital Reduction under Section 66 read with relevant provisions of the Companies Act, 2013, pursuant to which nonpromoter shareholders were provided an exit opportunity. The said scheme, as sanctioned by the Hon’ble National Company Law Tribunal (NCLT), Division Bench, Court - II, Chennai, became effective on 7th October, 2026. Consequent to the scheme becoming effective, TASL Automobile has yesterday remitted a total cash consideration of Rs 34.44 Crore (at an exit price of Rs 377.70 per equity share) to the Company. Accordingly, the Company’s entire holding of 9,11,741 equity shares in TASL Automobile stands fully cancelled and extinguished.
The above information is a part of company’s filings submitted to BSE.
