TVS Holdings receives RBI approval for acquisition and change in management of Home Credit India Finance

TVS Holdings has received approval of Reserve Bank of India (RBI) for the proposed direct change in control of Home Credit India Finance and consequent change in Board of Directors:

- change in shareholding/control by way of transfer of 80.74%, 10.79% and 8.47% equity shares of Home Credit to TVS Holdings, PI Opportunities Fund II and STPL Trading and Services respectively; and

- appointment of K Gopala Desikan as Non-Executive Director and B Sriram and Dr. Deepali Pant Joshi as Independent Directors of Home Credit.

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