23 August 2024

The proposed combination involves TVS Holdings Ltd. (TVSH), Srinivasan Trading Pvt. Ltd. (STPL), several individual investors (Mr. K. Gopala Desikan, Mr. Anuraag Agarwal, Mr. V. Ganesh), GWC Family Fund Investments Pte. Ltd. (GWCF), and PI Opportunities Fund-II (PIOF) acquiring Home Credit India Finance Private Limited (Home Credit). TVSH will acquire 80.74%, STPL will acquire 8.47%, and PIOF will acquire 10.79% of Home Credit's shares, while there are also proposed acquisitions of STPL’s equity by the individual investors and GWCF. 

TVSH is involved in diverse activities including automotive components manufacturing, financial services, and real estate, while STPL is currently inactive in business. The PIOF is an alternative investment fund linked with the Premji Invest Group. Home Credit operates in consumer finance globally. The transaction involves overlapping activities in various lending markets in India, but is not expected to harm competition in these sectors.