PE Fund Investments
TVS Credit Services attracts Rs.737-Cr from Premji Invest
Premji Invest will acquire a 9.7% equity stake in Chennai-based non-banking financial company TVS Credit Services for INR 737 crore, via a combination of primary and secondary investments. Nomura Financial Advisory and JM Financial acted as financial advisors and Khaitan & Co acted as legal advisor on the transaction. The primary capital of INR 480 crore will be used to strengthen TVS Credit's efforts in expanding its customer base in new markets, increasing the channel partner network, and advancing digitisation. TVS Credit has a strong customer base of over 10 million, served through a network of over 40,000 touchpoints across the country. In FY23, the company reported an AUM of INR 20,602 crore representing a growth of 48% from the previous year.
From the Venture Intelligence PE-VC Deal Database: In Apr-10, TVS Credit had raised INR 3.5 Cr from Phi Capital. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
