Transaction Details

  • Date of Occurrence: 15th July 2026 at 3:19 PM
  • Execution Date: Share Purchase Agreement executed on 15th July 2026
  • Acquiring Entity: Home Credit India Finance Private Limited (subsidiary of TVS Holdings Limited)
  • Target Entity: Varthana Finance Private Limited (formerly Thirumeni Finance Private Limited)
  • Corporate Identification Number: U65923KA1984PTC096528
  • Acquisition Percentage: 100% of issued, subscribed and paid-up share capital
  • Consideration: Cash consideration of ₹967 Crore, subject to adjustments as per SPA
  • Post-acquisition Structure: Varthana will become a wholly owned subsidiary of Home Credit India and a step-down wholly owned subsidiary of TVS Holdings

Target Company Information

  • Business: Provides credit facilities and financial support services in the education space to schools, colleges, educational organizations, tutorials, and training centers offering vocational courses and life skills
  • Incorporation Date: 12 June 1984
  • RBI Registration: Registered as NBFC with registration no. B-02.00279 dated 28 October 2020
  • Geographic Presence: India only

Financial Performance of Target Company

Turnover:

  • FY 2023-2024: ₹284.27 Crores
  • FY 2024-2025: ₹325.69 Crores
  • FY 2025-2026: ₹398.31 Crores

Profitability:

  • FY 2025-2026 Profit After Tax: ₹18.65 Crores
  • FY 2025-2026 Net Worth: ₹574.23 Crores

Regulatory Approvals Required

  • Primary approval required from Reserve Bank of India under Chapter II paragraphs 6 and 7 of the Master Direction – Reserve Bank of India (Non-Banking Financial Companies–Acquisition of Shareholding or Control) Directions, 2025 dated 28 November 2025
  • Other statutory and regulatory approvals as required under applicable laws

Transaction Timeline

Expected completion within 9 months from date of SPA execution (15th July 2026), subject to receipt of necessary regulatory approvals and completion of other conditions precedent.

Strategic Rationale

  • Expands Group's presence into complementary secured and longer-tenure lending segment
  • Strengthens TVS VENU's position in India's financial services sector
  • Diversifies portfolio and improves business mix
  • Creates opportunities to leverage operating, distribution, technology and risk-management synergies from wider TVS VENU ecosystem
  • Supports Varthana's next phase of growth

Related Party Status

This acquisition does not fall within related party transactions. Promoters/promoter group/group companies do not have any interest in the entity being acquired.

Additional Information

  • Disclosure made pursuant to SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026
  • Press release and detailed disclosure will be made available on company website as per Regulation 30(8) of Listing Regulations
  • Signed by R Raja Prakash, Company Secretary of TVS Holdings Limited on 15th July 2026 at 3:29 PM