TVS Motor picks up minor stake in Rapido

TVS Motor Company said that it has acquired 1.81% stake in Roppen Transportation Services (Rapido).

The company's holding in Rapido will constitute less than 5% of the shares or voting rights in Rapido. The announcement was made on 15 April 2022.

TVS Motor Company, part of the TVS Group, is a two and three-wheeler manufacturer.

The company had recorded 18.3% decrease in consolidated net profit to Rs 236.56 crore on a 8.2% rise in net sales to Rs 6,597.35 crore in Q3 FY22 over Q3 FY21.

The scrip lost 0.18% to currently trade at Rs 648.75 on the BSE.

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