The two-wheeler maker plans to raise funds via non-convertible redeemable debentures.
The Board of Directors of TVS Motor Company will meet on Thursday, July 28, 2022 to consider raising funds through the issuance of non-convertible callable debentures on a private placement basis, in one or more tranches/series, in the framework of the loan.
The board will also review the company’s first quarter results on July 28, 2022.
TVS Motor Company is a manufacturer of two and three wheelers, with four manufacturing plants in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia.
The company recorded a 5.1% decline in its standalone net profit to Rs 274.50 crore in the quarter ended March 2022 from Rs 289.24 crore in the quarter ended March 2021. raised to Rs 5,530.31 crore in Q4 FY22 from Rs 5,321.93 crore in Q4 FY21, registering a growth of 3.9%.
Shares of TVS Motor jumped 4.15% to close at Rs 872.05 on Friday, July 15, 2022.
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