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TVS Motor Company Limited has decided to divest its majority stake in TVS Energy Ltd, a subsidiary company.
Company sources said the board has given an approval to dilute the stake, the exact percentage and to whom it will be diluted will be decided in the new few days.
Reports stated that three companies have shown interest including Mytrah Energy, Orient Green Power and Green Infra.
However, the company announcement to the National Exchange stated that the Board of Directors of the Company has given their approval for divesting its majority stake in TVS Energy Limited subject to fulfilling certain related conditions before actual transfer of shares in TVS Energy Limited and an agreement to this effect has been signed.
TVS Energy, the renewable energy arm of TVS Motor, currently operates 59 mega watt of wind farms, at mostly its for captive purpose.
