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TVS Motor Company Limited ( (IN:TVSMOTOR) ) has issued an update.
TVS Motor Company Limited has announced its decision to divest its shareholding in Roppen Transportation Services Private Limited, known as Rapido. The company has entered into share purchase agreements with Accel India VIII (Mauritius) Limited and MIH Investments One B.V. for the sale of Series D Compulsory Convertible Preference Shares and equity shares. This move is part of TVS Motor’s strategy to monetize its investment in Rapido, with the transaction’s consideration exceeding the materiality threshold as per regulatory requirements.
More about TVS Motor Company Limited
TVS Motor Company Limited is a prominent player in the automotive industry, primarily engaged in the manufacturing and sale of two-wheelers and three-wheelers. The company has a significant market presence in India and is expanding its footprint globally.
Average Trading Volume: 35,167
Technical Sentiment Signal: Buy
Current Market Cap: 1657.6B INR
Find detailed analytics on TVSMOTOR stock on TipRanks’ Stock Analysis page.