TVS Holdings promoter group pledges 8.28% stake for acquisition finance

Promoters of TVS Holdings , specifically VS Trust and Srinivasan Trust, have pledged shares representing 8.28% of the company's total equity capital as collateral for loans. The credit facilities, totalling INR 825 Cr, were provided by JM Financial Products and JM Financial Credit Solutions. The firm indicated that these funds are intended for the acquisition of shares in a group company and to cover transaction-related expenses.VS Trust availed INR 265 crore from JM Financial Products, pledging 1,340,600 shares, which accounts for 6.63% of the equity capital of TVS Holdings. Srinivasan Trust raised INR 560 crore from JM Financial Credit Solutions, providing 335,200 shares as collateral. Post transactions, the stake held by the promoters in TVS Holdings reached 21.44% of the total equity capital.TSF Investments is reported to have sold 755,682 shares of TVS Holdings on October 28, with VS Trust and Srinivasan Trust identified as the buyers of 2.43 lakh and 5.13 lakh shares, respectively.