Premji Invest partners TVS Holdings to acquire Home Credit India Finance

TVS Holdings Ltd is to acquire an 80.74% equity stake in Gurugram-headquartered Home Credit India Finance Pvt Ltd (HCIFPL) for INR 554 crore. The remaining 19.26% equity stake will be purchased by Premji Invest and other associates. TVS Holdings will purchase 88,09,45,401 equity shares of Home Credit India from Home Credit International.Established in 1997, Home Credit is an international consumer finance provider operating across various markets. Originating from the Czech Republic, Home Credit offers a diverse range of services, including credit and ancillary insurance products.During the year 2022-23, HCIFPL generated a turnover of INR 1,720 crore.Post deal, HCIFPL will operate as a subsidiary of TVS Holdings, maintaining its brand identity.