TVS Motor Company has increased its shareholding in its subsidiary, DriveX Mobility Private Limited, to 92.41% from the previous 87.38%. This significant acquisition was completed on 15th April 2026, as disclosed in a regulatory filing with the National Stock Exchange of India.
DriveX Mobility, a private limited company incorporated under the Companies Act, 2013, operates in the trading and distribution of two-wheelers. For the fiscal year 2024-25, the company reported a turnover of ₹59.97 crore, a loss after tax of ₹46.33 crore, and a net worth of ₹36.98 crore.
The acquisition, which falls under related party transactions, was conducted at arm’s length. Mr Sudarshan Venu, a member of the promoter group, holds a 0.38% stake in DriveX. The transaction was executed with a cash consideration amounting to ₹9,99,60,460.68, marking a 0.20% increase in TVS Motor‘s stake in DriveX.
DriveX Mobility, established on 1st April 2020, engages in leasing two-wheeler motorcycles and scooters and trading pre-owned two-wheelers. The company has shown growth over the last three years, with turnovers of ₹33.99 crore in FY 2023-24 and ₹5.79 crore in FY 2022-23. The acquisition aims to leverage TVS Motor’s operational excellence to enhance DriveX’s business efficiency and better meet customer needs.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).