TVS Holdings Ltd., previously often called Sundaram-Clayton Ltd., has obtained the Competitors Fee of India’s nod for the proposed acquisition of 80.74% of fairness stake of Residence Credit score India Finance Pvt. Ltd.
On Wednesday, the CCI thought-about and accredited the proposed acquisition of 80.74% of Residence Credit score India Finance from Netherlands-based Residence Credit score India B.V., and Czech Republic primarily based Residence Credit score Worldwide A.S., TVSH mentioned in a regulatory submitting.
The proposed acquisition is topic to RBI approval.
TVSH is buying the stake for a money consideration of ₹554 crore, whereas the remaining 19.26% stake might be bought by Premji Make investments and different associates.
Residence Credit score India is engaged within the enterprise of offering unsecured loans and is likely one of the main gamers within the client financing market and the non-public loans phase. It entered the Indian market in 2012 and since then has served greater than 1.6 crore prospects on-line and offline.
Printed – September 25, 2024 08:06 pm IST
