TVS Motor Company signed a share purchase agreement on 16 May 2022 with Karan Makhija, Shunmuga Krishnan, Sidharth Middela, Fabric IOT (Fabric IOT) and Intellicar Telematics (Intellicar), a wholly owned subsidiary of TVS Motor, to divest the entire shareholding (100%) of TVS Motor in Intellicar to Fabric IOT as per the terms of the agreement. Post the transaction, Intellicar and its wholly-owned subsidiary, Intellicar Singapore, will cease to be subsidiaries of TVS Motor
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