Private equity firm Carlyle and Azim Premji's investment unit are in separate talks to invest about USD 150 million in TVS Credit Services, an arm of scooter and motorcycle maker TVS Motors, according to a leading media wire.
Also, a valuation of about 50 billion rupees ($612 million) for TVS Credit is being discussed, sources disclosed.
As per media reports, TVS Credit, which mainly offers loans for two-wheel vehicles and used cars, supporting its parent's business, recently expanded into personal, consumer loans and pre-approved credit via credit cards for items such as mobile phones.
Carlyle engaged with the company a few months ago but Premji Invest is new for the same.
