TVS Motor Company has successfully completed the acquisition of a 39.11% stake in DriveX Mobility Private Ltd for ₹97.78 crore. With this acquisition, TVS Motor’s holding in DriveX has increased to 87.38%, making DriveX a subsidiary of the company. The deal was executed through the purchase of 7,914 equity shares with a face value of ₹10 each from existing shareholders.
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The IPO of packaging machinery manufacturer Mamata Machinery Ltd fetched a whopping 194.95 times subscription on the final day of share sale on Monday. The ₹179-crore initial share sale received bids for 1,00,94,81,802 shares, as against 51,78,227 shares on offer, as per NSE data. The NIIs part received a staggering 274.38 times subscription, while the QIBs chunk got subscribed 235.88 times.
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The euro edged lower against the dollar on Monday, while markets continued to digest the recent string of central bank meetings that pushed the dollar to a two-year high and set expectations for globally diverging rate cut paths in 2025. The dollar index, which measures the U.S. currency against six of its largest peers, resumed its upward path, after closing lower on Friday.
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