TVS Motor Company Limited (BSE:532343) agreed to acquire 48.27% stake in Nkars Mobility Millennial Solutions Private Limited for INR 870 million on August 24, 2022. No approvals required to complete the transaction. Nkars Mobility Millennial Solutions has reported revenue of INR 86.83 million in financial year 2021-22.

The transaction is expected to complete on November 30, 2022. Nanditha Gopal of AZB & Partners acted as legal advisor to NKars Mobility Millennial Solutions Private Limited.