TVS Motor Company raises stake in DriveX to 92.41%
The proceeds of the issue will be primarily utilized towards repayment of the debt obligations and for operational expenses of DriveX
TVS Motor Company has raised its shareholding in its subsidiary - DriveX Mobility (DriveX) to 92.41% from 87.38%. The proceeds of the issue will be primarily utilized towards repayment of the debt obligations and for operational expenses of DriveX.
DriveX is engaged in the business of leasing two-wheeler motor cycles and scooters (which, for abundant clarification shall exclude bicycles and electric bicycles); and selling, trading, and distributing pre-owned two-wheeler motor cycles and scooters (which, for abundant clarification shall exclude bicycles and electric bicycles).
TVS Motor Company is a two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia.
