Sept. 27 :    Sept. 27:  A day after announcing its intention to part ways with Suzuki Motor, the Chennai-based TVS group today came out trumps by wangling out the best possible deal of the Japanese auto major. According to the scheme of things that had been worked out, the TVS group will pick up the 25.97 per cent stake of Suzuki at Rs 15 per share, a stunning 82 per cent discount to today's closing price of the TVS scrip on the Bombay Stock Exchange. The scrip closed at Rs 87.35 though only yesterday it was hovering around Rs 73. The Japanese auto giant would get about Rs 9 crore as part of an exit agreement reached between the two partners to enable them pursue their respective 'business interests', TVS-Suzuki managing director V. Srinivasan told reporters after the meeting of the board in New Delhi. SMC representatives at the board declined to comment on the agreement and refused to answer queries as to why it was selling its stake way below the market price. At the meeting it was agreed that Suzuki would pull out both as a shareholder and a licensor. The over Rs 1,800 crore TVS-Suzuki enjoys a 23 per cent market share in the domestic two-wheeler market. The Indian company could retain Suzuki brand name on its range of motorcycles for the next 30 months as per the agreement, he said, clarifying that during this period SMC would not manufacture or sell its two-wheelers independently or through third party in the Indian market. Srinivasan said TVS stake would rise to 58 per cent after the group company Sundaram Clayton and its subsidiaries bought about 6 lakh SMC shares in the joint venture by November 15. Asked whether there were any differences between the two companies, Srinivasan said: 'It was an amicable settlement. It is a question of each of the two partners who felt it is time to pursue their own business interests.' 'They (SMC) felt that they would have the same freedom and pursue the same interests to develop new products for the Indian market like us,' he said. TVS-Suzuki's name would soon be changed but the company would continue to pay royalty to SMC during the 30 months period, Srinivasan said.