Premji Invest to buy 9.7% stake in TVS Credit for ₹737 crore

TVS Credit Services, the financing arm of TVS Motor Company, has raised ₹480 crore in equity capital from Wipro Founder Azim Premji's Premji Invest. It's TVS Credit's first-ever external capital infusion, the company said. Under the deal, Premji Invest will also acquire a 9.7% stake in TVS Credit for ₹737 crore through a combination of primary and secondary investment.