Debt financing
Automobile parts seller TVS Mobility raises Rs.1,800-Cr from multiple investors
Chennai-headquartered TVS Mobility , the family office of TS Rajam and his successors, has finalised with multiple lenders a debt fundraising of INR 1,800 crore in a three-tranche loan structure.The funds will be used for capital expenditure and debt repayment across the businesses that are closely held.The new financing includes a first tranche of INR 300-350 crore by Standard Chartered Bank. Other lenders to help fund the next tranche of around INR 800 crore will include Nomura.The third tranche of INR 600-650 crore is being raised from a consortium comprising Nomura, a Kotak Fund, Axis AIF, Nippon, and ICICI Prudential AIF.TVS Mobility sells automobile parts and equipment. The company also offers vehicle mobility, manufacturing, and supply chain solutions.
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