TVS Motor Company Expands with New Subsidiary in Dubai

On June 27, 2024, TVS Motor Company Ltd established a new wholly-owned subsidiary named TVS MOTOR COMPANY DMCC in Dubai, UAE. They received the certificate of incorporation for this subsidiary on the same day.

The acquisition of TVSM DMCC does not involve any related party transactions with the promoter, promoter group, or group companies of TVS Motor Company Ltd, except as disclosed.

Objects Of Acquisition

The purpose of acquiring TVS MOTOR COMPANY DMCC is to conduct consultancy research and studies focused on enhancing business performance in the Middle East and African markets (MEA). This aligns with the TVS Motor Company Ltd’s objectives, despite being outside its primary business lines.

Acquisition Details

TVS Motor Company Ltd acquired TVS MOTOR COMPANY DMCC through cash consideration amounting to AED 50,000. This sum corresponds to the subscription of all 50 ordinary shares, each with a face value of AED 1,000. As a result, the company now holds 100% ownership and control of TVS MOTOR COMPANY DMCC.

About TVS MOTOR COMPANY DMCC

TVS MOTOR COMPANY DMCC (TVSM DMCC) was incorporated on June 27, 2024, as a wholly-owned subsidiary of TVS Motor Company Ltd. TVSM DMCC operates in the management consultancy industry. The subsidiary was established to conduct consultancy research and studies to enhance business performance in the Middle East and African markets (MEA). The company is based in the United Arab Emirates.

About TVS Motor Company Ltd

TVS Motor Company Ltd (TVSM) is one of India’s largest producers of two-wheelers. It manufactures a wide range of two- and three-wheelers at Hosur, Mysuru, and Nalagarh, Himachal Pradesh. TVSM operates in three two-wheeler categories: scooters, motorcycles, and mopeds. It is the only company in the domestic market for mopeds. In 2007, TVSM set up a wholly-owned subsidiary, PT TVS Motor Company Indonesia (PT TVS), to produce bikes in Indonesia. In 2020, the company acquired a 100% stake in The Norton Motorcycle Co. Limited in the United Kingdom.

On June 28, 2024, the share price of TVS Motor Company Ltd opened at ₹2,363.00, touching the day’s low at ₹2,327.10, as of 11:26 AM on the NSE.

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