CCI Approves Major Stake Acquisition in Home Credit India Finance by TVS Holdings and Premji Invest

The Competition Commission of India (CCI) has approved TVS Holdings, STPL, and Premji Invest's acquisition of stakes in Home Credit India Finance. The deal involves significant equity acquisitions and aims to enhance TVS Holdings' presence and customer base in financial services across India.

The Competition Commission of India (CCI) has given the green light for TVS Holdings, STPL Trading and Services Pvt Ltd (STPL), and Premji Invest Group to acquire stakes in Home Credit India Finance. This deal includes the purchase of 80.74%, 8.47%, and 10.79% of Home Credit's issued and paid-up share capital by TVSH, STPL, and PI Opportunities Fund-II (PIOF), respectively.

Furthermore, CCI has approved additional equity share acquisitions in STPL by K Gopala Desikan, Anuraag Agarwal, V Ganesh, and GWCF. The deal entails the total acquisition of Home Credit India's capital by these entities and PIOF.

The strategic transaction, valued at Rs 554.06 crore for the principal 80.74% stake, will augment TVS Holdings' reach and customer base. Home Credit India, part of global consumer finance company Home Credit NV, has been serving Indian customers since 2012.

(With inputs from agencies.)