TVS Motor Company Ltd approves demerger of consumer finance business into a separate holding company
- Shareholders would receive one share in the resulting company for each TVS Motor share held.
- The scheme also provides for the merger of wholly owned TVS Motor Services into TVS Motor.
- TVS Motor approved acquiring a controlling interest in STPL Trading and Services, expected to add about 2.4% to its holding in TVS Credit Services after the merger; the scheme remains subject to approvals.