TVS Motor : Sale or disposal of unit/ division/subsidiary

	22nd September, 2022
BSE Limited,	National Stock Exchange of India Ltd.,
Phiroze Jeejeebhoy Towers,	Exchange Plaza, 5th Floor,
Dalal Street,	Bandra-Kurla Complex,
Mumbai 400 001.	Bandra (E), Mumbai 400 051.
Scrip code: 532343	Scrip code: TVSMOTOR

Dear Sir/Madam,

Sub: Compliance under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We wish to inform you that TVS Motor Company Ltd ("TVS Motor") had obtained the approval of the shareholders through postal ballot on 6th September 2022 to dispose of the entire shareholding held through Sundaram Auto Components Limited (SACL), a wholly-owned subsidiary of the Company, in a material step-down subsidiary viz., Sundaram Holding USA Inc., USA (SHUI), to Sundaram-Clayton Limited (SCL), the holding company.

Consequently, SACL has on today i.e., 22nd September 2022 sold its entire stake of 50.05% in SHUI to SCL.

Subsequent to the above, SHUI has ceased as a subsidiary of SACL and also of the Company and consequently SHUI's subsidiaries in USA viz., Green Hills Land holding LLC, Component Equipment Leasing LLC, Sundaram-Clayton USA LLC and Premier Land Holding LLC have also ceased as subsidiaries of the Company.

In this regard, we furnish herewith the disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (Annexure).

Kindly acknowledge receipt.

Thanking You,

Yours truly,

For TVS MOTOR COMPANY LIMITED

KELLIYA SUBRAMANIAN SRINIVASAN

Digitally signed by KELLIYA SUBRAMANIAN SRINIVASAN Date: 2022.09.22 20:02:41 +05'30'

K S Srinivasan

Company Secretary

Encl: As above

Website : www.tvsmotor.com Email : [e-mail] CIN : L35921TN1992PLC022845

ANNEXURE

S No

Particulars

Details

1.

The amount

and percentage of

the

Amount

turnover

or

revenue

or

income

and

contributed

Consolidated

% against

Particulars

by SHUI

amount

net worth contributed by such unit or

consolidation

(Subsidiary)

(Rs. in Cr)

division of the listed entity during the

(Rs. in Cr)

last financial year

Revenue

52.79

24,388.18

0.22

Profit After

(83.04)

730.88

-

Tax

Net Worth

599.68

4,324.92

13.87

2.

Date on which the agreement for sale

The Board of Directors of SCL and SACL have

has been entered into

approved the transaction at their meeting held

on 29th

July 2022 and 21st

July 2022,

respectively.

3.

The expected date of completion of

22nd September 2022

sale/disposal

4.

Consideration

received

from

such

Rs. 317.01 Cr was received as consideration by

sale/disposal

SACL

5.

Brief details of buyers and whether

SCL, a public Listed Company and the holding

any of the buyers belong to the

company / Promoter, is the buyer.

promoter/

promoter

group/group

companies. If yes, details thereof

6.

Whether the transaction would fall

Yes, the transaction between SCL and SACL will

within related party transactions?

qualify as a related party transaction.

If yes, whether the same is done at

The transfer of shares of SHUI was done at

"arms- length"

"arms - length" based on a valuation report

obtained from a Registered Valuer.

7.

Additionally, in case of a slump sale,

Not Applicable

indicative

disclosures

provided

for

amalgamation/

merger,

shall

be

disclosed by the listed entity with

respect to such slump sale

oOo

Website : www.tvsmotor.com Email : [e-mail] CIN : L35921TN1992PLC022845