TVS lines up Rs 120cr for foreign investment

The board of directors of TVS Motor, at its meeting held today, has cleared the proposal to set up two wholly owned subsidiaries in the overseas market.

According to a release issued by TVS Motor to the BSE, the company is to make an investment of Rs 30 crore in Singapore by way of equity capital.

The board has also approved Rs 90 crore equity investment for a wholly owned facility to be incorported in Netherlands, the release said further.