TVS and Premji Invest completed the acquisition of the Indian business of Home Credit.

TVS, an Indian conglomerate specializing in diversified businesses including financial services, and Premji Invest, a private equity firm, completed the acquisition of the Indian business of Home Credit, an international non-bank financial institution. Financial terms were not disclosed. TVS Holdings acquired an 80.74% equity stake of Home Credit India, with the remaining 19.26% by Premji Invest and other associates. “For over 10 years, Home Credit India has offered consumers access to innovative and responsible financial services products. I am proud of the work our teams have delivered, and I wanted to pay tribute for what they have built over the past two decades. Now is the time for new owners to take the business to even greater heights and into a bright future," Radek Pluhar, Home Credit CEO.