TVS Motor Company has increased its shareholding in DriveX Mobility Private Limited to 92.41% from the previous 87.38%. The acquisition was completed on 15th April 2026, with a cash consideration of ₹9,99,60,460.68.
DriveX Mobility, a private limited company incorporated under the Companies Act, 2013, is engaged in the trading and distribution of two-wheelers. For the financial year 2024-25, the company reported a turnover of ₹59.97 crore but incurred a loss after tax of ₹46.33 crore, with a net worth of ₹36.98 crore.
The acquisition falls under related party transactions, with Mr. Sudarshan Venu, a member of the promoter group, holding a 0.38% stake in DriveX. The transaction was conducted at arm’s length.
DriveX Mobility, incorporated on 1st April 2020, focuses on leasing and selling pre-owned two-wheeler motorcycles and scooters. The company’s turnover has shown significant growth over the last three years, increasing from ₹5.79 crore in FY 2022-2023 to ₹33.99 crore in FY 2023-2024, and reaching ₹59.97 crore in FY 2024-2025.
This strategic acquisition aims to leverage TVS Motor‘s operational excellence to enhance efficiencies in DriveX’s business operations and better serve customer needs. The proceeds from the acquisition will be primarily used for debt repayment and operational expenses of the subsidiary.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).