TVS Srichakra assumes subsidiary's US sponsorship for $1.03M

TVS Srichakra Ltd. has executed an Assignment and Assumption Agreement on April 10, 2026, to assume all rights, duties, and obligations of its wholly-owned subsidiary, Super Grip Corporation, USA. This includes existing Suite License and Sponsorship Agreements with Bristol Motor Speedway, LLC, USA, originally dated February 16, 2024, and April 5, 2024. The company aims to enhance its brand visibility and reach in global markets through this move. TVS Srichakra will pay Bristol Motor Speedway, LLC, USA, USD 1,033,250 in tranches for the remaining years until December 31, 2028. No monetary consideration is payable to Super Grip Corporation. The transaction with the subsidiary is a related party transaction, conducted on an arm's length basis.