Castrol to pick up 7.09% stake in TVS family's Ki Mobility for Rs 488 cr

With this deal, which is Castrol's largest all-cash transaction, the firm aims to expand its presence in service and maintenance of ICE vehicles and EVs

Lubricant major Castrol India will acquire 7.09 per cent stake in automobile aftermarket player, Ki Mobility Solutions, for Rs 487.5 crore. Ki Mobility is a part of TVS Mobility Group.

With this strategic investment, Castrol aims to expand its presence in service and maintenance of internal combustion engine (ICE) and electric vehicles (EV), aprt from leveraging myTVS’ digital and operational capabilities. The alliance will also enable Castrol and KMS to collaborate in select markets beyond India. Ki Mobility is the digital subsidiary of TVS Automobile Solutions (TVS ASPL), the country's largest player in the automotive aftermarket segment. This will be