The USD 6.5 billion TVS Venu Group is quietly expanding its presence in the financial services space, with two recent deals. The group is not a stranger to the financial services space. In 2008, TVS Credit Services Ltd. was incorporated as a non-banking financial company (NBFC) and as a captive financial arm of TVS Motor. It commenced operations in May 2010. According to ICRA TVS Credit has financed 19 – 21 per cent of the two-wheeler sales (by volume) of TVS Motor in recent years. It is also a key financier for the company’s two-wheelers in a few rural locations. It has expanded into financing used cars, tractors and used commercial vehicles. Besides, it also offers unsecured loans and the total customer base stood at over 2.4 crore as of March 2026.
What is new now?
The TVS Venu Group is increasing its bet on the financial services space post the legal separation of the composite TVS family. In 2024, TVS Holdings bought an 80.74 per cent stake in Home Credit India Finance Private Ltd. for Rs. 554 crore. The remaining 19.26 per cent was picked up by Premji Invest and other associates. The acquisition was part of the strategy in deepening financial penetration in India. There are several areas of synergies, including collections, cost efficiencies, in-house digital and analytics capabilities and cross-selling.
Recently, TVS Holdings infused Rs 526.79 crore into Home Credit and was allotted an additional 229,139,017 equity shares. Post the transaction, TVS Holdings’ stake in Home Credit stood at 80.39 per cent. The company said the infusion was towards sustaining and accelerating the current growth rate of Home Credit and maintaining capital adequacy at an optimum level.
“Financial services represent a huge opportunity. Home Credit is a significant player in consumer financing with high potential. Together with TVS Credit, the group will now have a lending book of Rs 31,000 crore, taking us closer to our book-size goal of Rs 50,000 crore in the next three years. Collectively, we will now be serving three crore financial services customers across more than 90,000 touch-points pan India,” highlights Sudarshan Venu, Managing Director, TVS Holdings.
A couple of years ago, the group also forayed into the health insurance space with Galaxy Health Insurance Company, jointly promoted by Venu Srinivasan along with the family of V Jagannathan, who earlier founded Star Health and Allied Insurance Company Ltd., which was India’s first standalone health insurance company.
Blending the Financial Narrative
In early April, TVS Venu Management and Consultancy Services and its affiliates signed a definitive agreement to acquire Prudential Financial, Inc.’s 100 per cent stake in PGIM India Asset Management and PGIM India Trustees. This marked the group’s foray into the mutual fund space. It is a full-service investment manager offering a broad range of equity, fixed income and multi-asset solutions to retail and institutional investors, managing over Rs 30,000 crore of assets as of 31 December 2025.
Now, TVS Venu Group has penned a deal to acquire a minority stake in Jana Small Finance Bank Ltd. through a combination of subscription to the primary issue of warrants and a secondary purchase for an eventual equity ownership of up to 9.9 per cent. As part of the deal, TVS Motor will buy 4.9 per cent stake in Jana Small Finance Bank for about Rs 193.31 crore, while GWC Family Fund Investments Pte.Ltd., a body incorporated under the laws of Singapore and forming part of TVS Venu Group, will subscribe to an aggregate of 68,29,909 share warrants for a consideration of about Rs 317.5 crore. The warrant may be exercised and converted to one or more tranches during the period commencing from the date of allotment of the subscription till 18 months from then. Jana Small Finance Bank has over 12 million customers and 822 outlets across 23 states and two union territories with a strong hold of retail and MSME clientele. It has generated a total income of Rs 6374.76 crore in 2025-26, with a profit after tax of Rs 326.43 crore and a net worth of Rs 4215.50 crore. “We firmly believe that a key driver to India’s growth is the strengthening and expansion of India’s financial services. We have been serving more than 44 million financial services customers across more than 100,000 touch-points pan India and are excited about the huge opportunity that the sector presents,” said Sudarshan Venu, Chairman, TVS Motor Company.
Observers see the acquisitions as a stepped-up propensity of the group to spread and solidify its presence in the BFSI (banking, financial services and insurance) space. Indeed, the group has come a long way, since the legal separation. Well, the TVS Venu group is making quiet and calibrated moves in the BFSI sector. The focus, not surprisingly, appears to be on connecting the dots to strengthen the customer base.