TVS Motor Company has officially signed a Memorandum of Understanding (MoU) with Manba Finance Limited on December 30, 2025, to strengthen financing solutions for commercial mobility customers. This strategic partnership aims to enhance vehicle affordability and improve access to structured financing for customers across India.

MoU Details and Scope

The comprehensive agreement enables Manba Finance Limited to provide monthly EMI-based financing solutions for the entire range of TVS Commercial Mobility vehicles. The partnership covers both passenger and cargo three-wheelers across internal combustion engine (ICE) and electric vehicle (EV) models.

Strategic Benefits and Market Impact

The collaboration is designed to strengthen TVS Commercial Mobility's ecosystem by offering competitive funding schemes, reduced turnaround time for loan processing, and deeper penetration into rural and semi-urban markets. For customers, the partnership enables higher purchasing power through attractive down payment options and reduced monthly outflows, supported by bundled financing offers that deliver greater savings and financial flexibility.

Leadership Perspectives

Mr. Rajat Gupta, Business Head – Commercial Mobility, TVS Motor Company, emphasized the partnership's role in building a comprehensive commercial mobility ecosystem. He stated that the collaboration strengthens the company's ability to offer accessible and competitive financing solutions across their ICE and EV three-wheeler portfolio, aiming to support entrepreneurs and fleet operators in enhancing their earning potential and business scalability.

Mr. Manish Shah, Managing Director of Manba Finance Limited, highlighted the alignment with their commitment to supporting a cleaner and more sustainable mobility ecosystem. He noted that leveraging TVS Motor's deep industry expertise, strong distribution network, and trusted brand positions Manba Finance to build meaningful scale in the three-wheeler financing segment, expecting significant contribution to expansion and portfolio growth.

Company Background

TVS Motor Company operates as a reputed two and three-wheeler manufacturer globally with four state-of-the-art manufacturing facilities in India and Indonesia. The company has won the prestigious Deming Prize and operates across 80 countries worldwide. Manba Finance Limited, established in 1996, is a trusted NBFC offering various financing solutions including two-wheeler loans, three-wheeler and electric vehicle financing, with a customer-first and technology-led operating model.

TVS Motor Company has officially appointed Ms. Kalpana Unadkat as an Additional Director and Non-Executive Independent Director to its board. The appointment was approved by the Board of Directors at their meeting held on December 15, 2025, marking a strategic addition to the automobile manufacturer's governance framework.

Board Approval and Postal Ballot Process

The board meeting, which commenced at 10:20 AM (IST) and concluded at 10:55 AM (IST), approved Ms. Unadkat's appointment for a period of five consecutive years, effective December 15, 2025. The company has initiated a postal ballot process under Section 110 of the Companies Act, 2013, to seek shareholder consent for the appointment through special resolution.

Professional Background and Expertise

Ms. Kalpana Unadkat, 55 years old, brings over a decade of boardroom experience and more than 25 years of cross-border legal and governance expertise to TVS Motor Company. She is a dual-qualified solicitor from India and the UK, having served as a senior partner at Khaitan & Co. and former Co-Head of Ashurst's India Practice in London.

Specialization and Experience

Ms. Unadkat specializes in cross-border joint ventures and M&As (international and domestic), corporate governance laws, and offers practical solutions to clients on doing business in India. She has extensive experience in leading diverse teams in dynamic environments while achieving success in competitive markets.

Current Board Positions

Ms. Unadkat currently serves as an independent director on the boards of several notable companies:

Recognition and Awards

Ms. Unadkat has been recognized with various awards including:

• Trailblazer Women Achiever Awards 2023 by FICCI FLO
• Corporate Governance Lawyer for India
• Corporate Governance Lawyer of the Year Award in 2018-2019
• The Rising Women of the Year Award in 2019 by Economic Times and Spencer Stuart
• Female Lawyer of the year, Women in Law Awards
• Women Super Achiever Award in 2017

Strategic Significance

The appointment strengthens TVS Motor Company's board composition with additional independent oversight and governance expertise. Ms. Unadkat is not related to any Director of the Company and is not debarred from holding the Office of Director by virtue of any order passed by SEBI or any other authority. Her multi-sector board experience and corporate governance expertise position her well to contribute to the company's strategic initiatives and governance practices. The company will arrange to send copies of the Postal Ballot Notice to stock exchanges for information and records as per regulatory requirements.