TVS Srichakra Limited Assigns Rights for Global Brand Visibility
TVS Srichakra Limited announced an Assignment and Assumption Agreement executed on April 10, 2026. This agreement involves Super Grip Corporation, USA, which is a wholly owned subsidiary of TVS Srichakra Limited, and Bristol Motor Speedway, LLC, USA.Under the terms of the agreement, the Company assumes all rights, duties, and obligations of Super Grip Corporation relating to a Suite License Agreement dated February 16, 2024, and a Sponsorship Agreement dated April 5, 2024. These agreements were originally executed by Super Grip Corporation, USA, with Bristol Motor Speedway, LLC, USA.
The stated purpose for entering into this agreement is enhancing the visibility and reach of the company's brands in global markets.
The consideration for the rights granted by Bristol Motor Speedway, LLC, USA, to TVS Srichakra Limited through this assignment amounts to USD 10,33,250, to be paid in tranches over the remaining years. No monetary consideration is payable to Super Grip Corporation, USA, for this assignment.
Key aspects of the agreement confirm that the Company assumes all obligations under the Original Agreements. There are no changes to the terms of the Original Agreements. The duration of this agreement extends until December 31, 2028.
The shareholding details indicate that TVS Srichakra Limited holds 100% shareholding in Super Grip Corporation, USA, and has nil shareholding in Bristol Motor Speedway, LLC, USA. Bristol Motor Speedway, LLC, USA is noted as a third party and unrelated to the company, promoter group, or group companies.
The transaction between Super Grip Corporation, USA and TVS Srichakra Limited qualifies as a Related Party Transaction, and it has been executed at an arm's length basis.
For reference, a summary of the agreement details is provided below:
| Particulars | Details |
|---|---|
| Name(s) of parties | TVS Srichakra Limited, Super Grip Corporation, USA, and Bristol Motor Speedway, LLC |
| Agreement Date | April 10, 2026 |
| Rights Assumed | Rights, duties, and obligations under agreements dated February 16, 2024, and April 5, 2024 |
| Consideration Paid | USD 10,33,250 in tranches |
| Agreement Duration | Until December 31, 2028 |
| Related Party Status | Transaction is a Related Party Transaction and conducted at arm's length |
TVSSRICHAK Stock Price Movement
Today, TVS Srichakra Limited shares edged higher to settle at ₹3769.6, gaining ₹150.20 in post-market trading today. The stock saw activity on a total volume of 4,259 shares as trading concluded for the day.Source:
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