TVS Motor Company raises stake in DriveX to 92.41%

TVS Motor Company has raised its shareholding in its subsidiary - DriveX Mobility (DriveX) to 92.41% from 87.38%. The proceeds of the issue will be primarily utilized towards repayment of the debt obligations and for operational expenses of DriveX. 

DriveX is engaged in the business of leasing two-wheeler motor cycles and scooters (which, for abundant clarification shall exclude bicycles and electric bicycles); and selling, trading, and distributing pre-owned two-wheeler motor cycles and scooters (which, for abundant clarification shall exclude bicycles and electric bicycles).

TVS Motor Company is a two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia.