The board of directors of TVS Motors, at its meeting held on Monday, has cleared the proposal to set up two wholly owned subsidiaries in the overseas market.
According to a release issued by TVS Motors to the Bombay Stock Exchange, the company is to make an investment of Rs 30 crore (Rs 300 million) in Singapore by way of equity capital.
The board has also approved Rs 90 crore (Rs 900 million) equity investment for a wholly owned facility to be incorporated in Netherlands, the release said further.
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