Unlocking Value

In June issue, Industrial Economist featured how the USD 6.4 billion TVS Venu Group is quietly expanding its presence in the financial services space. At the annual general meeting of the group’s flagship TVS Motor, its chairman Sudarshan Venu hinted that the company would evaluate alternatives including a possible separation of the financial services business.

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Over the years, the group has made sustained investments in building and nurturing its financial services business, which has evolved into an important part of the broader TVS Venu ecosystem. TVS Motor owns around 85 per cent stake in TVS Credit Services, a retail-focused Non-banking Finance Company. It is the major financier for TVS Motor and is also engaged in financing diverse products including used and new vehicles and tractors, consumer durables, personal loan, gold loan and business loans serving 2.6 crore customers. Other financial services business includes Home Credit India Finance Private Ltd, health insurance venture Galaxy Health Insurance Company, PGIM India Asset Management and PGIM India Trustees and a minority stake in Jana Small Finance Bank Ltd.

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