VS Trust has pledged 4,20,400 equity shares in tvs holdings to Aditya Birla Capital Limited to secure a facility of ₹250 crore. The pledge agreement was executed on 7 July 2026 to avail the facility with the maintenance of required security cover in favor of the lender. This disclosure was submitted to BSE Limited and National Stock Exchange of India Limited on 9 July 2026 under Regulation 31 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The encumbrance was created by VS Trust, where Mr. Venu Srinivasan acts as the Trustee. Prior to this transaction, the promoter group held 1,50,63,398 shares, representing 74.45% of the total share capital, with 22,02,608 shares already encumbered. The creation of this pledge increases the total encumbered shares held by the promoters to 26,23,008, which constitutes 12.96% of the total share capital.

Aditya Birla Capital Limited, classified as a Non-Banking Financial Company (NBFC), is the entity in whose favor the shares have been encumbered. The value of the shares on the date of the event was ₹596,67,37,200, resulting in a security cover ratio of 2.39 against the borrowed amount of ₹250 crore. The borrowed amount is intended for general purpose use.

Shareholding Details

The following table outlines the promoter holding and the details of the encumbrance event:

The disclosure confirms that the encumbered shares do not constitute 50% or more of the promoter shareholding, nor do they constitute 20% or more of the total share capital of TVS Holdings Limited. The filing references SEBI circulars dated 5 August 2015 and 7 August 2019 regarding the disclosure format.

TVS Holdings Limited subscribed to 6,58,64,009 equity shares in its subsidiary, Home Credit India Finance Private Limited (HCIFPL), on July 2, 2026. The investment of ₹176.38 crore was made at a price of ₹26.78 per share to support the subsidiary's growth. Despite the additional capital infusion, TVS Holdings' aggregate holding in HCIFPL remains at 80.17%.

The subscription was executed pursuant to a rights issue offer by HCIFPL. The aggregate cost of the investment exceeded the materiality threshold specified under Regulation 30(4) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, necessitating this disclosure. The transaction was undertaken on an arm's length basis, with shares issued at the same price and terms as those offered to other shareholders.

Home Credit India Finance Private Limited is a non-deposit-taking non-banking financial company categorized as a middle layer NBFC by the Reserve Bank of India. It provides loans to the retail segment for consumer durables and cash loans, operating through point-of-sales and online models. For the financial year 2025-26, HCIFPL reported a turnover of ₹2,112.74 crore, a profit after tax of ₹132.24 crore, and a net worth of ₹2,654.35 crore.

Financial Details of the Acquisition

The acquisition was classified as a related party transaction since HCIFPL is a subsidiary. STPL Trading and Services Private Limited, a member of the promoter group, holds an 8.08% interest in the target entity. No governmental or regulatory approvals were required for this acquisition.