TVS Motor's Subsidiary TVS EBike to Transfer Assets to Callista AMG

TVS Motor Company's wholly-owned subsidiary, TVSM Singapore, and its step-down subsidiary, TVS EBike, have entered into asset transfer agreements with Callista Asset Management 33 GmbH (Callista AMG) on May 14, 2026. The agreement involves the proposed transfer of certain assets and liabilities owned by TVS EBike. The consideration for the transaction is estimated at CHF 16 million, representing the book value of net assets, subject to adjustments, and will be settled over 24 months. The expected completion date is August 13, 2026.