TVS arm Home Credit to buy education loan company for Rs 967 crore

Home Credit India will acquire Varthana Finance in an all-cash deal valued at Rs 967 crore. This transaction will make Varthana a wholly owned subsidiary of Home Credit India. The acquisition aims to diversify portfolios and improve business mix for the company. It is expected to create synergies in distribution, technology, and risk management. Regulatory approvals are required, with completion anticipated within nine months.