TVS Motors gains after subsidiary picks stake in Swiss e-bike firm

Shares of TVS Motors Company Ltd jumped 2 percent in the early trade on June 12 after its subsidiary acquired a 25 percent stake in Swiss E-Mobility (Holding) AG, also known as SEMG.

At 9.57 am TVS Motors was trading 1.67 percent higher at Rs 1,355 on the National Stock Exchange.

SEMG, which is an e-bike platform covering B2B and B2C businesses involving sale of own branded ebikes, is a subsidiary of TVS Motor (Singapore) Pte Ltd.

After the acquisition of the 25 percent shares from existing minority shareholders is done, SEMG will become a wholly-owned subsidiary of TVS Motor (Singapore) Pte Ltd, TVS Motor said in the filing on June 10.

Previously, TVS Motor acquired a 75 percent stake in the e-mobility company via its Singapore subsidiary in 2022, to establish its presence in the space.

In April this year, TVS Motor (Singapore) agreed to acquire a 25 percent stake in Killwatt GmbH by way of newly issued shares of the latter, amounting to 8,500 common equity shares.

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Stock performance

TVS Motors Company Ltd stock has given a return of 30.37 percent over the last six months, outperforming the benchmark Nifty which has given a return of 0.74 percent over the same duration.

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