With the empire split into four separate companies and pursuing individual paths, the holding company needs a new function
Sundaram Clayton, the listed auto component manufacturing arm of the $8.5 billion TVS Group, is likely to sell two percent of its stake in the company.
The firm has proposed to reorganise and segregate the businesses of manufacturing non-ferrous gravity and pressure die castings from its other businesses, according to a stock exchange disclosure.
Sundaram Finance Holdings sold 1.1 lakh equity shares in auto components maker Sundaram-Clayton at Rs 4,636 per share. However, India Opportunities Growth Fund - Pinewood Strategy was the buyer for those shares at same price on the BSE.