TVS Holdings acquires 80.74% stake in Home Credit India for Rs 554 Cr

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TVS Holdings acquires 80.74% stake in Home Credit India for Rs 554 Cr - YourStory

Quick Summary:

The remaining 19.26% stake has been acquired by Premji Invest and other TVS Holdings associates.

The transaction is expected to drive synergies in collections, cost efficiencies, digital capabilities, and cross-selling opportunities within the TVS Holdings Group.“We are confident that this acquisition will help the group strengthen its position in the financial services sector, accelerate scale and profitability and build significant value for all stakeholders” said TK Kurien, Managing Partner and Chief Investment Officer, Premji Invest.

It primarily focuses on New-to-Credit customers by providing consumer durable loans for low-cost smartphones and personal loans.