Auto component firm TVS Holdings on Thursday said its board has approved a proposal to raise up to Rs 650 crore next fiscal through non-convertible debentures.
The company's board also declared an interim dividend of Rs 94 per share of Rs 5 each, absorbing a sum of Rs 190 crore in the current fiscal.
TVS Holdings, formerly known as Sundaram Clayton, is one of the largest auto components manufacturing and distribution groups in the country.
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It is a leading supplier of aluminium die castings to the automotive and non-automotive sector.
Shares of the company on Thursday ended 2% up at Rs 8,098 apiece on the BSE.
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