TVS Credit Services Raises Rs 480 Cr In Equity Capital From Premji Invest

TVS Credit Services Ltd on Saturday said that it has successfully raised an equity capital of Rs 480 crore from Premji Invest.

The investment will be utilised by the non-banking finance company to fuel the company’s growth plans, including the advancement of its digitisation journey.

Premji Invest, the investment arm of Wipro founder Azim Premji‘s endowment, will acquire a 9.7 per cent equity stake in TVS Credit for Rs 737 crore through a combination of primary and secondary investments. The primary capital raised will be utilised to strengthen TVS Credit’s efforts in expanding its customer base in new markets, increasing its channel partner network, and advancing its digitisation initiatives.

In a statement, TVS Credit Services expressed its aim to accelerate its mission of fulfilling the aspirations of a growing India by providing convenient financing options to its customers. The company plans to leverage this infusion of capital to drive its expansion and enhance its services.

Sudarshan Venu, Chairman of TVS Credit Services, praised the exceptional performance of the company, noting its robust and profitable growth. This investment from Premji Invest is expected to further bolster TVS Credit’s position in the non-banking finance sector and enable it to cater to the evolving financial needs of Indian consumers.