15 Jul 2026
TVS Holdings' subsidiary Home Credit India Finance will buy 100 percent of Varthana Finance for Rs 967 crore.
Varthana is an RBI-registered non-banking financial company that lends to affordable private schools. It turned over Rs 398.31 crore in FY26 with profit after tax of Rs 18.65 crore and net worth of Rs 574.23 crore, so the cash consideration works out to roughly 1.7 times book. The deal is subject to RBI approval, after which Varthana becomes a step-down wholly owned subsidiary. It adds a specialised education-finance book to the Home Credit platform.