Private Equity

Other Private Equity/Strategic Investments

Castrol invests Rs.488-Cr in TVS' Ki Mobility Solution

BusinessLine  

Lubricants major Castrol India has picked up a 7.09% stake in Ki Mobility Solution (KMS), a full-stack O-to-O (online-to-offline) digital platform promoted by TVS Automobile Solutions, for INR 487.5 crore in an all-cash deal. In addition, Castrol will explore business and technology collaborations with KMS to enable readiness for the transition to electric mobility. With this strategic investment, CIL aims to expand its presence in service and maintenance for both internal combustion engines (ICE) and electric vehicles (EV) and leverage myTVS' digital and operational capabilities. The alliance will also offer the potential for Castrol and KMS to collaborate and partner in select markets beyond India. TVS Automobile runs India's largest independent integrated multi-brand car service under myTVS brand. myTVS' online-to-offline digital platform already offers standardized and cost-effective services and parts to B2B and B2C customers through its owned outlets, franchise network, at-home services, and roadside assistance.