TVS Motor Company rises as its arm to acquire additional 8.26% stake in GOAG
TVS Motor Company is currently trading at Rs. 2427.05, up by 9.35 points or 0.39% from its previous closing of Rs. 2417.70 on the BSE.
The scrip opened at Rs. 2444.95 and has touched a high and low of Rs. 2452.35 and Rs. 2408.60 respectively. So far 8902 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 2958.15 on 27-Sep-2024 and a 52 week low of Rs. 1873.05 on 19-Apr-2024.
Last one week high and low of the scrip stood at Rs. 2477.95 and Rs. 2310.00 respectively. The current market cap of the company is Rs. 115845.24 crore.
The promoters holding in the company stood at 50.27%, while Institutions and Non-Institutions held 41.21% and 8.53% respectively.
TVS Motor Company’s wholly owned subsidiary -- TVS Motor (Singapore) Pte. (TVSM Singapore) has planned to acquire additional 8.26% of the share capital of The GO Corporation (GOAG), Switzerland from its existing shareholder for a total consideration of 500,000 Swiss franc (CHF).
Upon consummation of the transaction, the TVSM Singapore’s holding in GOAG will increase to 100% and consequently it will become a wholly owned subsidiary of TVSM Singapore and the Company. The said acquisition is expected to be completed by March 31, 2025.
TVS Motor Company is a two and three-wheeler manufacturer globally, championing progress through sustainable mobility with four state-of-the-art manufacturing facilities located in India and Indonesia
