TVS Holdings Limited (BSE:520056) entered into a sale and purchase agreement to acquire 80.74% stake in Home Credit India Finance Private Limited from Home Credit India Bv and Home Credit International A.S. for INR 5.5 billion on May 10, 2024. As part of the transaction, TVS will acquire 880 million shares in Home Credit. The remaining 19.26% of the equity stake will be purchased by Premji Invest and other associates. The bard of directors of TVS approved the transaction. The transaction is subject to approval from the Reserve Bank of India, with respect to change in control and board of directors and approval from the Competition Commission of India under the Competition Act, 2002 for completion of the proposed transaction. The transaction subject to receipt of necessary regulatory
approvals and completion of other conditions precedent is expected to close 6 months from the date of execution of the agreement.