TVSSCS loan to arm turned into equity

TVS Supply Chain Solutions Limited (TVSCS) has converted its pre-existing inter-company loan (including interest) into equity in TVS Logistics Investment USA Inc., a wholly-owned subsidiary.

Listen to this article

The wholly-owned overseas subsidiary is in the business of storage, warehousing, freight transportation and other land transport services.

The objective of the conversion is to strengthen the capital structure, improve profitability and facilitate business growth.

The conversion of loan into equity was done under the automatic route permitted by Reserve Bank of India.

Accordingly, $14,824,425 was converted into 89,845 equity shares at a valuation of $ 165 a share.

Latest

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing...

Army Design Bureau reviews Garuda’s drone ops

IPO-bound Garuda Aerospace said it used the visit to...

Newsletter

Don't miss

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing...

Army Design Bureau reviews Garuda’s drone ops

IPO-bound Garuda Aerospace said it used the visit to...

Milky Mist’s new yoghurt plant goes on stream

In a statement, the company said the new facility...

HDFC Bank identifies 2 candidates for MD post

The bank has submitted the names of two candidates in order of preference and the remuneration proposed to be paid to them, for a...

Navin’s forays into plotted development

The announcement was made at the company’s 37th anniversary celebration, themed ‘Beyond 37 – Past, Present & Future’, in Chennai. The company said the entry...

Croma announces special prices for iPhone 17 Pro

Croma, a brand of Infiniti Retail Ltd, is continuing to sell the iPhone 17 Pro and iPhone 17 Pro Max with special offers, including...