Shares of TVS Motor Firm Ltd are buying and selling flat on seventh November after touching a day’s excessive of Rs 3,447.50, following two key company bulletins made in separate inventory alternate filings on Thursday, sixth November. The corporate stated it is going to divest its stake in Roppen Transportation Companies Pvt Ltd, the operator of Rapido, for a complete consideration of practically Rs 288 crore.
TVS Motor stated it has signed share buy agreements on sixth November to monetise its funding in ride-hailing platform Rapido.
The corporate will promote its stake to Accel India VIII (Mauritius) Ltd and MIH Investments One B.V. for a complete of Rs 287.94 crore. As per the submitting, Accel India pays Rs 143.96 crore for 11,997 Collection D CCPS, whereas MIH Investments pays Rs 143.97 crore for 10 fairness shares and 11,988 Collection D CCPS.
In a separate submitting, TVS Motor introduced that Unbiased Director Deepali Pant Rajeev Joshi has resigned, efficient on the shut of enterprise on sixth November, 2025. She cited her resolution to pursue different pursuits as the rationale for stepping down and confirmed there was no different materials motive for her resignation.
At 12:11 PM, shares of TVS Motor have been buying and selling 0.64% decrease at Rs 3,424.60 on NSE.
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