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TVS Supply Chain Solutions converts $14.8 M loan to US arm into equity
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Chennai-based logistics services provider TVS Supply Chain Solutions Ltd has converted its USD 14,824,425 pre-existing inter-company loan (including interest) into 89,845 equity shares at a valuation of USD 165/share, with no fresh capital infusion in its St Louis, Missouri-headquartered, wholly owned subsidiary TVS Logistics Investment USA Inc (TVS LI USA).This move is aimed at strengthening the capital structure and improving profitability.TVS LI USA is in the business of storage, warehousing, freight transportation and other land transport services.