TVS Srichakra Limited received ₹34.44 crore from TASL Automobile Solutions Private Limited following a court-approved capital reduction scheme. According to the latest disclosure filed on October 8, 2026, under Regulation 30 of SEBI Listing Regulations, TASL Automobile paid ₹377.70 per share to buy out TVS Srichakra's holding of 9,11,741 equity shares, representing 7.58% of TASL Automobile's paid-up share capital. The payment was executed on October 7, 2026, the effective date of the scheme, with the entire holding now fully cancelled and extinguished. The transaction stems from an earlier corporate event disclosed on November 28, 2024, when TVS Srichakra received the shares in TASL Automobile Solutions.
The transaction was conducted under a Composite Scheme of Selective Capital Reduction initiated by TASL Automobile Solutions under Section 66 of the Companies Act, 2013. As reported in the latest disclosure, the scheme was sanctioned by the National Company Law Tribunal's Division Bench, Court II, in Chennai, providing an exit to non-promoter shareholders. The scheme specifically offered an exit to non-promoter shareholders, allowing TASL Automobile Solutions to completely exit from its promoter group company. This represents a structured exit mechanism rather than a strategic divestiture, as the exit was sanctioned through the NCLT process.
Following the transaction, TVS Srichakra's holding in TASL Automobile Solutions is now fully cancelled and extinguished, with the company receiving ₹34.44 crore in cash consideration at an exit price of ₹377.70 per equity share. According to the latest disclosure, this transaction converts a minority stake in a promoter group company into liquid funds, with the corresponding cash inflow reflecting positively on the company's balance sheet. The stock has declined approximately 20% over the past month but remains above its 52-week low of ₹3,185. TVS Srichakra shares were trading at ₹4,338.95 on the BSE as of the latest trading session, compared to the previous close of ₹4,404.95, with 158 shares traded in over 52 trades during the day.
TVS Srichakra had first disclosed receiving the shares in November 2024, marking the beginning of this stake sale process. The latest disclosure filed on October 8, 2026 references this earlier intimation dated November 28, 2024, when the original shareholding was first disclosed. TVS Srichakra Limited, headquartered in Madurai, Tamil Nadu, manufactures two-wheeler and three-wheeler tyres, marketed under the TVS Eurogrip brand, with its primary manufacturing unit located at Vellaripatti, Melur Taluk, Madurai. The company operates in the automotive components sector and is part of the broader TVS Group, one of India's established automotive conglomerates.
