TVS Credit Services raises equity capital of Rs 480 cr from Premji Invest

Non-banking finance company TVS Credit Services Ltd has successfully raised equity capital of Rs 480 crore from Premji Invest to fuel its growth plan including advancing its digitisation journey, the city-based company said on Saturday. Premji Invest, the investment arm of Wipro founder Azim Premji's endowment, would pick up 9.7 per cent equity stake in TVS Credit for Rs 737 crore as part of the transaction via a combination of primary and secondary investments. The primary capital raised would be utilised to further strengthen the efforts of TVS Credit in expanding its customer base in new markets, increasing the channel partner network, and advancing its digitisation journey. With this infusion of capital, the company aims to accelerate its mission of fulfilling the aspirations of a growing India by providing convenient financing options, TVS Credit Services said in a statement. "TVS Credit has demonstrated exceptional performance, achieving robust and profitable growth. Within a

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