The primary capital raised will be used by TVS Credit to enhance its initiatives in expanding its customer base in new markets.
09 Jun 2023 | 3978 Views | By Autocar Professional Bureau
TVS Credit Services, a prominent NBFC in India, has announced the successful raise of Rs. 480 crores in equity capital from Premji Invest. In this transaction, Premji Invest will acquire a 9.7% equity stake in TVS Credit for Rs. 737 crores through a combination of primary and secondary investments.
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TVS Credit Services, a prominent NBFC in India, has announced the successful raise of Rs. 480 crores in equity capital from Premji Invest. In this transaction, Premji Invest will acquire a 9.7% equity stake in TVS Credit for Rs. 737 crores through a combination of primary and secondary investments.
The primary capital raised will be used by TVS Credit to enhance its initiatives in expanding its customer base in new markets, augmenting the channel partner network, and advancing its digitisation endeavors. With this infusion of capital, the company aims to expedite its mission of fulfilling the aspirations of a growing India through the provision of convenient financing options.
Commenting on this funding, Sudarshan Venu, Chairman, TVS Credit, said, “TVS Credit has demonstrated exceptional performance, achieving robust and profitable growth. Within a short span of time, our Company’s Assets Under Management (AUM) have surpassed Rs. 20,000 crores, supported by a strong balance sheet. As we embark on the next phase of our journey, our focus will be on leveraging digitisation to reach new customers and achieve a higher growth momentum.