TVS Holdings to raise 650 cr via NCDs

New Delhi: Auto component firm TVS Holdings on Thursday said its board has approved a proposal to raise up to Rs 650 crore next fiscal through non-convertible debentures.

The company’s board also declared an interim dividend of Rs 94 per share of Rs 5 each, absorbing a sum of Rs 190 crore in the current fiscal. TVS Holdings, formerly known as Sundaram Clayton, is one of the largest auto components manufacturing and distribution groups in the country. It is a leading supplier of aluminium die castings to the automotive and non-automotive sector. Shares of the company on Thursday ended 2 per cent up at Rs 8,098 apiece on the BSE.