TVS Motor To Infuse INR 64 Cr In Narain Karthikeyan’s DriveX

DriveX’s shareholders approved a proposal to issue 5,179 equity shares at INR 1.23 Lakh apiece to TVS Motor on a private placement basis

The startup said it would use the capital primarily towards repayment of its debt and for general corporate purposes

DriveX is a subsidiary of the automotive major, which holds an 87.38% stake in the pre-owned two-wheeler marketplace

TVS Motor Company is doubling down on its investment in pre-owned two-wheeler marketplace DriveX Mobility, cofounded by former Formula 1 driver…