TVS Holdings Limited successfully acquired 80.74 percent equity stake of Home Credit India Finance (Home Credit India) for Rs 554 crore. The company announced this today. The remaining 19.26 percent equity has been awarded by Premji Invest and other colleagues of TVS Holdings.
After this deal, the group intends to increase the loan accounts to Rs 50,000 crore in the next three years in collaboration with TVS Credit, which is currently Rs 33,000 crore. The company said the acquisition is easily associated with TVS Holdings’ mission to strengthen its presence in the financial services sector. Home Credit India has served more than 1.6 crore customers both online and offline. Home Credit India is one of the leading companies in the Consumer Financial Services Market and by March 2024 its managed assets (AUMs) were Rs 5,535 crore. It has 3,800 employees and has a strong network of over 50,000 point-off-cell (POS) in 625 cities across the country.
It focuses on new-to-credit customers, which gives them a loan of sustainable consumer goods as well as personal loans for affordable smartphones. The company said in a statement that Home Credit India will help the current capabilities of TVS holdings significantly to help more customers to give better financial solutions.