TVS Motor subsidiaries announce composite amalgamation scheme
TVSMOTOR · price
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TVS Motor informed that its subsidiaries have approved a composite amalgamation scheme. STPL Trading and Home Credit India Finance will merge into TVS Credit Services through a multi-step consolidation. Home Credit India Finance has total assets of Rs 8,367 crore and TVS Credit Services has Rs 35,683 crore. Share exchange ratios: 155.79 shares for every 200 of STPL, and 9.94 shares for every 180 of Home Credit India. No change in TVS Motor's own shareholding pattern. Subject to NCLT, RBI, SEBI approvals.
Internal group restructuring to consolidate NBFCs under TVS Credit Services. No direct impact on TVS Motor's shareholding. Long-term synergies expected.