TVS Credit has joined the race for KKR-backed investment bank Avendus Capital as part of its strategy to expand the group's financial services business, three people with knowledge of the development said.
The financial services arm of the Chennai-based conglomerate has held several rounds of discussions in the last six months ahead of a likely bid, the people cited above said on the condition of anonymity. US private equity firm KKR & Co. has been looking to find a buyer for Avendus Capital for over a year.
TVS Group may acquire Avendus and keep it as a standalone entity within the group, or make an acquisition through TVS Credit, one of the two people cited above said on the condition of anonymity.
"The group is well-funded and can pull this off through internal accruals, if need be. It does not need to partner with anyone," the person said. If needed, TVS may raise debt at a later stage.
Denne historien er fra December 19, 2024-utgaven av Mint Ahmedabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 19, 2024-utgaven av Mint Ahmedabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
MR POONAWALLA GOES TO BOLLYWOOD
Thirsty for growth, Bollywood's studios have been wooing non-film suitors, like the vaccine tycoon, for funding
TVS Credit eyes bid for Avendus Capital
Mizuho, Nomura, Carlyle in race; deal may be finalized in Jan
Relief for instant commerce as CCI not keen to step in
The Competition Commission of India (CCI) is unlikely to open an investigation of its own accord into allegations of anti-competitive practices by quick commerce services including Zepto, Instamart and Blinkit, according to two persons privy to the development.
Cricket stories that read like tales told in a pub
Glenn Maxwell's book, 'The Showman', with Adam Collins, is chaotic, flashy and straightforward but not necessarily engaging
Include pantos on your holiday to-do list
If holiday travels take you to Britain, indulge in vibrance of the pantomime
A new play weaves a story of love, longing and deceit
A new play by Amitesh Grover speaks of grief through the story of a woman who can make clay figurines come alive
Can the Xi-Trump 'bromance' be revived? Else, ties may fray
Cordiality between the two leaders would favour both countries
An image makeover for palm oil would be good for us
The ecological impact of this affordable oil is lower and health benefits greater than often portrayed
Refrain from judicial overreach: It'll strengthen India's judiciary
The suo motu powers of courts are essential to secure justice and the public interest but their overuse can have adverse results
Services led exports are a mixed blessing for us
Even as we celebrate India's emergence as a services-led economy, with our service exports strong and their prospects bright amid rising trade flux, we must look beyond the numbers
