<article>Auto components manufacturing and distribution group TVS Holdings on Friday said it is acquiring an 80.74% stake in Home Credit India Finance, a consumer financing and personal loans provider, for Rs 554 crore ($66.4 million). Premji Invest and other associates will purchase the remaining stake.</article>

Auto components manufacturing and distribution group TVS Holdings on Friday said it is acquiring an 80.74% stake in Home Credit India Finance, a consumer financing and personal loans provider, for Rs 554 crore ($66.4 million). Premji Invest and other associates will purchase the remaining stake.
Home Credit India, a part of the Home Credit Group, entered India in 2012 and has since served over 1.6 crore customers. Home Credit has assets under management (AUM) of Rs 5,535 crore as of March 31, 2024.
With Home Credit&#8217;s acquisition, TVS plans to deepen its presence in the burgeoning sector in India. Home Credit will operate as a subsidiary of TVS Holdings.
Given the Group’s strength in financial services, there are several areas of synergies to be realised including collections, cost efficiencies, in-house digital and analytics capabilities, and cross-selling, the firm said.
&#8220;Together with TVS Credit, the Group will now have a lending book of Rs 31,000 crore, taking us closer to our book-size goal of Rs. 50,000 crore in the next three years. Collectively, we will now be serving 3 crore financial services customers across more than 90,000 touch points pan India.” Sudarshan Venu, Managing Director, TVS Holdings, said.
In another significant deal in the sector, last month, Northern Arc, a non-banking financial company (NBFC), secured an investment of $80 million from the International Finance Corporation (IFC).

Padma Priya

TVS Holdings is acquiring an 80.74% stake in Home Credit India Finance for $66.4m while Premji Invest and others will purchase the rest. 

TVS Holdings to buy 80.74% stake in Home Credit India Finance for $66m

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TVS Holdings to buy 80.74% stake in Home Credit India Finance for $66m

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