TVS Holdings and Premji Invest acquire Home Credit India Finance for Rs 686 crore, with TVS taking 80.74% stake.

TVS Holdings and Premji Invest will acquire Home Credit India Finance, a consumer financing company, for Rs 686 crore. TVS Holdings will acquire an 80.74% stake for Rs 554.06 crore, while Premji Invest and associates will buy the remaining 19.26%. The acquisition aims to strengthen TVS Holdings' portfolio in consumer finance and expand its lending book, and Home Credit India Finance will continue to operate as a subsidiary under TVS Holdings. The transaction is subject to necessary approvals from the Reserve Bank of India and the Competition Commission of India.