Private Equity

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TVS Motor to buy 25% in Germany-based EV co Killwatt for 2-M euros

BSE Announcement  

Publicly listed TVS Motor Company is to acquire 25% stake in Killwatt GmbH by way of newly issued shares. The cost of acquisition would be about 2 million euros (235.29 euros per share for 8,500 shares.) Incorporated in 2020, Killwatt, a privately held firm, is engaged in the development, design, manufacture, sale and distribution of high tech products and components in the field of electric two-wheeler and three-wheeler vehicles. During the calendar year 2022, Killwatt was at a pre revenue stage.