By Abhay Ray 
Introduction
The company has expanded at a 30-35% compound annual growth rate over the past five years since inception. It offers aftermarket services such as repairs, vehicle health tracking, auto components, insurance and vehicle fleet-related services. It has annual revenue of about INR 2,000 crore.
myTVS ropes fund raising USD 125 mn
myTVS, an online to offline automotive solutions company, has raised USD 125 million in pre-IPO funding. The fresh funds will be used to scale its online-to-offline business model, expand throughout the country and build its cloud-based digital infrastructure for its business to consumer vertical.
Initially launched as an online roadside assistance and services player, the company now caters to the entire aftermarket ecosystem including vehicle owners, garages and retailers of spare parts through online-to-offline channels. It’s business has touched 12 million customers and 10,000 vehicle fleets as per a recent presentation at the Bharat Mobility show.
myTVS Targets
myTVS is targeting about 35,000 garages and 20,000 retailers to whom it can offer products and services, according to sources. The ecosystem of garages and retailers across India could number well over 200,000. The company has its own network of 1,200 branded myTVS garages which it has said would double in numbers in the next 18 months. This network is said to be among the top 5 such organised networks with a pan-India reach.
For vehicle fleets, it is integrating everything from charging infrastructure to predictive maintenance. While it doesn’t own the charging infrastructure, the company has tie-ups with third parties with whom it provides integrated offerings to vehicle fleet owners. Its garage network and spare parts distribution business take care of the service, repair and health tracking needs of these fleets. myTVS is part of the USD 3 billion TVS Mobility Group which also has interests in vehicle dealerships, tyre manufacturing and supply chains.
myTVS Taps Rothschild and Citi for Pre-IPO Funding Boost
Automotive Aftermarket Leader myTVS Partners with Leading Investment Banks to Secure USD 125 Million in Pre-IPO Capital. myTVS, a key player in the automotive aftermarket space, has enlisted the services of Rothschild & Co. and Citi to facilitate its pre-IPO funding. The company is aiming to raise USD 125 million ahead of its planned public listing. This strategic partnership with two global financial powerhouses is expected to position myTVS for a strong market entry, providing the financial boost required to accelerate its growth and development.
The funds raised will be instrumental in helping myTVS expand its market presence and enhance operational capabilities. The company, which has witnessed rapid growth over the years, aims to utilize the capital for scaling up its services, improving technological infrastructure, and increasing its footprint in the competitive automotive sector.
Strategic Partners and Growth Trajectory
Rothschild & Co. and Citi have been brought in for their expertise in structuring significant funding raises, which will help myTVS strategically position itself ahead of its public offering. The companies’ longstanding experience in capital markets and their reputation in the financial world make them key players in this funding round.
Over the past five years, myTVS has demonstrated a robust compound annual growth rate (CAGR) of 30-35%. The company’s diversified portfolio and innovative approach to automotive solutions have made it a frontrunner in the Indian automotive aftermarket industry. With the planned IPO, myTVS seeks to capitalize on its growth trajectory, enhancing investor confidence.
Conclusion
This pre-IPO funding marks a significant milestone for myTVS as it prepares to go public. The company’s leadership believes that the strong financial backing and expert guidance from Rothschild and Citi will pave the way for a successful market debut. As myTVS continues to evolve, the pre-IPO raise will be a crucial step toward further expansion and establishing itself as a market leader in the global automotive aftermarket industry.
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