Home Credit Group, a subsidiary of Czech investment group PPF, is selling its business in India. It will be taken over by a group of investors led by TVS Holdings for EUR 80 million.

Home Credit India, since its entry into the market in 2012, has been expanding its operations regularly and is present in 625 cities across India. The company has a strong network of over 50,000 outlets and a customer base of over 16 million. TVS will acquire 80.7% stake while Premji Invest will acquire 10.8%. The rest of the stake will be divided among other investors. Earlier this year, Home Credit agreed, among other things, to sell its operations in Vietnam to Thai firm SCB X for around CZK 20 billion.

Home Credit Group is an international consumer finance provider with roots in the Czech Republic. PPF Investment Group operates in 25 countries in Europe, Asia and North America. Its investment portfolio covers a variety of sectors, including financial services, telecommunications, media, biotechnology, real estate and engineering. The Group's other major players include Air Bank, telecommunications companies Cetin and O2, real estate group PPF Real Estate Holding, engineering company Škoda Group and Czech toll operator CzechToll.