TVS Srichakra acquires 5 lakh equity shares in M/s ZF Electronics (TVS) India
With the transfer of these shares, ZF Electronics (TVS) India will become a subsidiary of the finance company, TVS Srichakra Investments that is a wholly owned subsidiary of TVS Srichakra Limited (TSL). TVS Srichakra is a member of the TVS group, one of the largest ancillary group in India. It manufactures tyres and tubes for two & three wheelers in India and has a large programme of off-the-road tyres for the Expert and Domestic market. TVS Srichakra Investments is involved in Monetary Intermediation that includes obtaining of funds in the form of deposits.
ZF Electronics (Formerly TVS Cherry) is a joint venture between TVS group, India and ZF Electronics Corporation, USA (a group company of ZF Friedrichshafen AG, Germany) to manufacture precision snap action switches, sensors and electromechanical assemblies in India.
With the acquisition of the above shares, M/s ZF Electronics (TVS) India will become a subsidiary of TVS Srichakra Investments in the TVS Group itself.