TVS Motor shares in focus on Rs 288 crore Rapido stake sale; key details
Under the deal, the company will sell its stake to Accel India VIII (Mauritius) Ltd and MIH Investments One B.V. for a combined consideration of Rs 287.94 crore.
- Nov 7, 2025,
- Updated Nov 7, 2025 8:58 AM IST
Shares of TVS Motor Company Ltd are in focus on Friday after the two-wheeler major announced two key corporate developments in separate stock exchange filings on Thursday, November 6. The company said it will divest its stake in Roppen Transportation Services Pvt Ltd, the operator of Rapido, for a total consideration of nearly Rs 288 crore.
TVS Motor said it has entered into share purchase agreements dated November 6, to monetise its investment in the ride-hailing platform Rapido.
Under the deal, the company will sell its stake to Accel India VIII (Mauritius) Ltd and MIH Investments One B.V. for a combined consideration of Rs 287.94 crore.
According to the filing, Accel India will pay Rs 143.96 crore for 11,997 Series D Compulsory Convertible Preference Shares (CCPS), while MIH Investments will pay Rs 143.97 crore for 10 equity shares and 11,988 Series D CCPS.
In a separate filing, TVS Motor announced the resignation of Deepali Pant Rajeev Joshi as Independent Director, effective from the close of business hours on November 6, 2025.
Joshi cited her decision to pursue other interests as the reason for stepping down. With her resignation, she also ceases to be a Member of the Audit Committee and Nomination & Remuneration Committee, and Chairperson of the Stakeholders’ Relationship Committee.
Her resignation letter, submitted to the exchanges, confirmed that there is no other material reason other than the one mentioned above for her departure from the board.
Shares of TVS Motor Company Ltd are in focus on Friday after the two-wheeler major announced two key corporate developments in separate stock exchange filings on Thursday, November 6. The company said it will divest its stake in Roppen Transportation Services Pvt Ltd, the operator of Rapido, for a total consideration of nearly Rs 288 crore.
TVS Motor said it has entered into share purchase agreements dated November 6, to monetise its investment in the ride-hailing platform Rapido.
Under the deal, the company will sell its stake to Accel India VIII (Mauritius) Ltd and MIH Investments One B.V. for a combined consideration of Rs 287.94 crore.
According to the filing, Accel India will pay Rs 143.96 crore for 11,997 Series D Compulsory Convertible Preference Shares (CCPS), while MIH Investments will pay Rs 143.97 crore for 10 equity shares and 11,988 Series D CCPS.
In a separate filing, TVS Motor announced the resignation of Deepali Pant Rajeev Joshi as Independent Director, effective from the close of business hours on November 6, 2025.
Joshi cited her decision to pursue other interests as the reason for stepping down. With her resignation, she also ceases to be a Member of the Audit Committee and Nomination & Remuneration Committee, and Chairperson of the Stakeholders’ Relationship Committee.
Her resignation letter, submitted to the exchanges, confirmed that there is no other material reason other than the one mentioned above for her departure from the board.