CosmicTaco

TVS Motors Boosts DriveX With INR 64 Cr Investment

CosmicTaco · 2025-07-16T11:35:39.002401+05:30

- DriveX shareholders approved issuing 5,179 equity shares to TVS Motor for INR 63.99 Cr in a private placement. - The funds will be primarily used to repay debt and for general corporate purposes, strengthening DriveX's financial position. - DriveX, a subsidiary of TVS Motor with an 87.38% stake, focuses on the pre-owned two-wheeler market. - Co-founded by ex-Formula 1 driver Narain Karthikeyan, the Bengaluru startup facilitates buying and selling refurbished bikes from major brands. - In a competitive market, DriveX contends with challenges like low margins, similar to rivals Bike Bazaar and BikeDekho. Source: [Inc42](https://inc42.com/buzz/exclusive-tvs-motor-to-infuse-inr-64-cr-in-narain-karthikeyans-drivex/)

DriveX shareholders approved issuing 5,179 equity shares to TVS Motor for INR 63.99 Cr in a private placement.
The funds will be primarily used to repay debt and for general corporate purposes, strengthening DriveX's financial position.
DriveX, a subsidiary of TVS Motor with an 87.38% stake, focuses on the pre-owned two-wheeler market.
Co-founded by ex-Formula 1 driver Narain Karthikeyan, the Bengaluru startup facilitates buying and selling refurbished bikes from major brands.
In a competitive market, DriveX contends with challenges like low margins, similar to rivals Bike Bazaar and BikeDekho.

Source: Inc42