TVS Shriram

TVS Shriram Growth Fund picks 25% stake in Landmark for Rs 65 crore

TVS Shriram Growth Fund picks 25% stake in Landmark for Rs 65 croreTVS Shriram Growth Fund I, a domestic fund, sponsored by TVS Group and Shriram Group, has acquired more than 18 lakh shares or 25 per cent in Landmark Ltd, a subsidiary of the Tata group firm Trent Limited, for Rs 65 crore.

The deal values Landmark at Rs 260 crore.

Under the arrangement, Trent will sell 14.03 lakh shares to TVS Shriram for Rs 50 crore and will utilize the funds to subscribe to fresh shares in Landmark. In addition, TVS Shriram will be directly issued 4.21 lakh shares for Rs 15 crore.

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