Rs. 34.44 crore received as selective capital reduction cancels 9,11,741 shares in promoter group firm

TVS Srichakra has received Rs. 34.44 Crore in cash from TASL Automobile Solutions, a promoter group company, at Rs. 377.70 per equity share.

Thu 8 Oct 2026

Total cash consideration received

Rs. 34.44 Crore

Exit price per equity share

Rs. 377.70

Shares cancelled and extinguished

9,11,741 equity shares (7.58%)

Exit at a glance

• Total cash consideration received: Rs. 34.44 Crore
• Exit price: Rs. 377.70 per equity share
• Shares held and cancelled: 9,11,741 equity shares
• That holding was 7.58% of the paid-up equity share capital of TASL Automobile Solutions Private Limited
• Scheme effective date: 7th October, 2026
• Counterparty: TASL Automobile Solutions Private Limited, described as a promoter group company

What the company has said

TASL Automobile had initiated a Composite Scheme of Selective Capital Reduction under Section 66 read with relevant provisions of the Companies Act, 2013. Under that scheme, non-promoter shareholders were provided an exit opportunity. The scheme was sanctioned by the Hon'ble National Company Law Tribunal (NCLT), Division Bench, Court II, Chennai, and became effective on 7th October, 2026. Consequent to the scheme becoming effective, TASL Automobile remitted the total cash consideration of Rs. 34.44 Crore to the company. The company's entire holding of 9,11,741 equity shares in TASL Automobile stands fully cancelled and extinguished.

What a selective capital reduction means

A selective capital reduction is a process in which a company cancels certain shares and pays the holders of those shares for them, so that those shares no longer exist in its capital base. Here, the company was one of the shareholders whose shares were cancelled, so it received cash in place of continuing to hold that stake. The update is an intimation under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and it continues an earlier disclosure dated 28th November, 2024 about the company receiving these 9,11,741 equity shares.

How this may be read

The update records the completion of an exit and the receipt of cash against a holding in a promoter group company. Because the entire holding stands cancelled and extinguished, the company no longer holds these 9,11,741 equity shares in TASL Automobile. The cash amount, the per-share exit price of Rs. 377.70 and the 7.58% stake are the figures that let a reader judge the size of this transaction against the company's own financials.

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