TVS Holdings Limited announced that its subsidiary, Home Credit India Finance Private Limited, has received board approval for a composite scheme of amalgamation involving STPL Trading and Services Private Limited, TVS Housing Finance Private Limited, and TVS Credit Services Limited. The scheme, which is subject to regulatory approvals including those from the Reserve Bank of India and the Competition Commission of India, aims to consolidate the group structure and streamline operations, leading to synergies and long-term sustainable growth. The amalgamation will involve the issuance of equity shares by Home Credit India Finance Private Limited to shareholders of STPL Trading and Services Private Limited and TVS Credit Services Limited, with share exchange ratios determined by Bansi S Mehta Valuers LLP.