TSF INVESTMENTS LIMITED

Sundaram Finance Holdings Limited was initially incorporated as 'Sundaram Finance Securities Limited' on August 11, 1954. The Company name was changed from Sundaram Finance Securities Limited to Sundaram Finance Distribution Limited in March, 2004. From Sundaram Finance Distribution Limited, it changed to SFL Invest Limited in December, 2016 and then to Sundaram Finance Investments Limited in March 2017 and subsequently changed to Sundaram Finance Holdings Limited in March, 2017. Company comes under the category of exempted Core Investment Company (CIC) and is not required to register with the Reserve Bank of India (RBI) as a Non-Banking Financial Company. The Company is primarily engaged in the business of Investments, business processing and support services. During the year 2015, the Company credited an amount of Rs.256.56 crore to the Capital Reserve which pertains to the sale of 17,37,012 equity shares of the Company, held by SFL Shares Trust. The Company received the proceeds, being the sole beneficiary of the Trust. These shares accrued to the Trust on account of the merger of Lakshmi General Finance Limited with the Company, in the year 2005. During the year 2015, the Company mobilized fresh deposits aggregating to Rs.414.35 crore. Renewal of deposits during the year amounted to Rs.629.81 crore, representing 84% of the matured deposits of Rs.742.36 crore. During the year 2015, the Company raised term funding from Banks, Mutual funds, Insurance companies and others in the form of non-convertible debentures and term loans to the tune of Rs.3878 crore, across various tenors. As part of the overall funding plan, the Company's working capital limits with Consortium banks were retained at Rs. 1800 crore. During the year 2015, the Company also issued several tranches of commercial paper aggregating to Rs.8216 crore.During the year 2015, the Company raised resources to the extent of Rs.1323 crore through securitisation and assignment of hypothecation loan receivables.During the year 2015, Sundaram Parekh Warehousing Services Limited, a wholly owned subsidiary of Infreight Logistics Solutions Limited, which is a wholly owned subsidiary of Sundaram Finance Distribution Limited (SFDL), merged with Infreight, under a Scheme of Amalgamation under Section 391 to 394 of the Companies Act, 2013, effective 1st April 2014. During the year 2015, the Company and RSA Group, UK, reached an agreement whereby RSA agreed to sell its entire 26% equity stake in Royal Sundaram Alliance Insurance Company (RSAIC), a joint venture, to the Company for a consideration of Rs 450 crore, subject to all regulatory approvals. The Company currently holds 49.90% in Royal Sundaram and the said acquisition would increase its holding to 75.90%. During the year 2016, the Company mobilised fresh deposits aggregating to Rs 491.41 crore. Renewal of deposits during the year amounted to Rs 690.31 crore, representing 83% of the matured deposits of Rs 838.40 crore. During the year 2016, the Company raised term funding from Banks, Mutual funds, Insurance companies and others in the form of non-convertible debentures and term loans to the tune of Rs. 2222 crore, across various tenors. During the year 2016, the Company also issued several tranches of commercial paper aggregating to Rs.9835 crore. During the year 2016, the Company acquired 8,19,00,000 equity shares of Royal Sundaram Alliance Insurance Company Limited from Royal & Sun Alliance Insurance PLC for a total consideration of Rs 450 crore, raising the Company's shareholding in Royal Sundaram from 49.90% to 75.90%. Consequently, Royal Sundaram became a subsidiary of the Company and the company's name was changed to Royal Sundaram General Insurance Co. Limited. In 2016, the Company's paid-up capital was reduced from Rs 94.50 crore to Rs 24 crore in accordance with the Scheme of Capital Reduction approved by the Hon'ble High Court of Judicature at Madras. During the year 2016, the Company sold its entire holdings of 49.90% in BNP Paribas Sundaram Global Securities Operations Private Limited to the joint venture partner, BNP Paribas Securities Services, Paris, for a total consideration of Rs 44.30 crore. During the year 2016, the Company raised resources to the extent of Rs 2998 crore through securitisation and assignment of receivables. During the year 2017, the Company raised term funding from Banks, Mutual funds, Insurance companies and others in the form of non-convertible debentures and term loans to the tune of Rs.3554 crore, across various tenors. During the year 2017, the Company raised resources to the extent of Rs.3999 crore through securitisation and assignment of receivables. In 2017-18, the non-core business activities of the Company viz., identified shared services undertaken by the Company including shared services vested from Sundaram BPO India Limited, training services rendered by the Company, non-financial services investments of the Company , together with related assets, into the Company in the Scheme were made operative effective from 1st April 2016 through the Scheme of Amalgamation. As provided in the Scheme, on 12th February 2018, all the shareholders of the Company were allotted 1 equity share of Rs 5/- each credited as fully paid-up in the capital of SFHL for every 1 fully paid-up equity share of Rs 10/- held by them in the Company as on the record date, i.e., 2nd February 2018. Pursuant to the said allotment, the shareholding of the Company in SFHL got reduced from 100% to 26.47% and SFHL became an associate of the Company. The equity shares of SFHL were listed on the National Stock Exchange of India Limited with effect from 26th March 2018. During the year 2023, Sundaram Hydraulics Limited merged with Wheels India Limited, pursuant to which the Company's stake in Wheels India Limited increased from 23.85% to 23.96%. During April 2025, Company along with its wholly-owned subsidiary Forge 2000 Private Limited acquired the entire shareholdings of 1,23,16,415 offered by Dana Global Products Inc (USA) in Axles India Limited, in equal proportion. Company acquired 61,58,208 shares. With this acquisition Company's shareholding in Axles India Limited increased from 98,91,754 equity shares of Rs 10/- each (38.81%) to 1,60,49,962 equity shares of Rs 10/- each, constituting 62.98% in the paid-up equity share capital of Axles India Limited. Consequent to this acquisition, Axles India Limited became a subsidiary of the Company effective 25th April, 2025. Company acquired 20,00,000 equity shares of Rs 10/- each constituting 100% stake in Forge 2000 Private Limited, thereby making it a wholly-owned subsidiary of the Company in FY25.