TVS Holdings has disclosed the acquisition of Home Credit India Finance in a disclosure to the stock market on Friday.
New Delhi:
TVS Holdings Limited Rs. 554.06 crore to acquire Home Credit India Finance Pvt. TVS Holdings will buy 80.74 per cent stake, TVS Holdings said in a filing to the stock market on Friday. The company’s board of directors approved the acquisition of 88,09,45,401 equity shares of Home Credit India Finance (HCIFPL) in its meeting held on Friday, the company said. This is equal to 80.74 percent share.
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The company is taking this stake from Netherlands-based Home Credit India BV and Czech Republic-based Home Credit International AS. The total cost of this acquisition is Rs. 554.06 crores.
According to the information, Home Credit India is engaged in the business of finance lending and is one of the leading units in the consumer credit market and personal loan segment with a turnover of Rs. 1,720 crore was
TVS Holdings Limited said the acquisition is in line with its strategy to expand and strengthen its business in the consumer finance sector.