Board of TVS Holdings approves acquisition of 80.74% stake in Home Credit India Finance

The Board of TVS Holdings at its meeting held today, 10 May 2024 has inter alia, approved the acquisition of 88,09,45,401 equity shares of Home Credit India Finance (HCIFPL) (80.74%) from Home Credit India B.V., an entity based in Netherlands and Home Credit International A.S., an entity based in Czech Republic, for an aggregate consideration of Rs 554.06 crore.

HCIFPL is engaged in the business of providing unsecured loans and is one of the leading players in the consumer financing market and the personal loans segment.

HCIFPL reported an Assets under Management of Rs. 5,535 crore as of 31 March 2024.

During the year 2022-23, HCIFPL generated a turnover of Rs. 1,720 crore. Profit after tax of Rs. 80 crore and net-worth of Rs. 1,922 crore.

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