Ownership model of TVS Group will change, system with holding company will end
The Chennai-based TVS Group, valued at $ 8.5 billion, has decided to change its ownership model. Now the holding company model will end and the family members managing the group companies will get the ownership. There will be no cross holding in the new arrangement and the promoter family has agreed to it. This means that one company of the group will have no stake in another.
New system of ownership of companies
In the new arrangement owned by the companies of TVS Group, Sundaram Fasteners will have the reins of Suresh Krishna and his daughters. Venu Srinivasan and his family will manage TVS Motor, TVS Credit, Sundaram Clayton and other companies. R Dinesh will handle other companies including TVS Logistics and TVS Automobile Solutions, while TVS Srichakra will be headed by Shobhana Ramachandran.
Royalty free use of TVS brand
Every family group will have the right to use the TVS brand on a royalty free basis for their business line. The existing management of listed and unlisted companies will remain the same under the new system of ownership of the group. Now senior nominated members of TVS Family will consider what measures should be taken to implement the new system.
TV Sundaram Iyengar and Sons was made in 1911
The TVS Group is made up of companies started by TV Sundaram Iyengar. The TVS family has been doing a wide range of businesses through several companies for over a century. In these companies, TVS family members themselves or TV Sundaram Iyengar & Sons, Sundaram Industries and Southern Roadways (all called TVS Holding Companies) have invested money. TV Sundaram Iyengar & Sons was founded in 1911.
The group is in the hands of the third-fourth generation of the family
The current shareholders of TVS Holding Companies are basically the third and fourth generation members of TV Sundaram Iyengar. The family of the TVS group has traditionally been handled by family members. According to sources, with the passage of time, family members began to feel that the ownership of the shares of different companies should be adjusted according to their management, hence the memorandum of family members has been prepared.
Over 50 companies, over 39,000 employees
The TVS group consists of more than 50 companies and has over 39,000 employees. These companies range from toe wheeler and automotive component manufacturing to automotive dealerships, finance and electronics businesses.
