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TVS Motor acquires entire stake of TVS MS

The move will make TVS Credit Services, an NBFC, its subsidiary

Gireesh Babu  |  Chennai 

Representational image
Representational image

Two-wheeler major Company has acquired the entire stake in Services Ltd (TVS MS), through which Non-Banking Finance Company (NBFC) will become the subsidiary of the company.

In a regulatory filing with the exchange on Thursday, has said it is acquiring Services, which is a special purpose vehicle for financing the retail arm of the company, that is is a subsidiary of

"The investment in the target company would continue to benefit the company in financing its customers for the purchase of products," said the two-wheeler manufacturer. The acquisition was for a price of Rs 4.62 crore. 

TVS MS, incorporated in March 23, 2009, has recorded a turnover of Rs 24,000 in 2017, compared to Rs 37,000 in 2016 and Rs 9,54,975 in 2015.

First Published: Thu, September 07 2017. 21:35 IST