Type of Deal: Preferential issue subscription (minority stake acquisition)
Stake/Capacity: 10,57,827 equity shares of ₹10 each
Deal Value: ₹150 crore (aggregate amount not exceeding)
Consideration Structure: Cash consideration at ₹1418 per equity share (₹10 face value + ₹1408 premium)
Funding Source: Not explicitly disclosed in the document
Financial Impact: Not explicitly disclosed in the document regarding revenue contribution, EBITDA impact, margin profile, or accretion/dilution
Timeline: Expected completion on or before 30 September 2026, subject to shareholders approval
Strategic Rationale: To consolidate the shareholdings in Wheels India Limited (associate company)
Approval Status: Board of Directors approved on 19.08.2026. Audit Committee has reviewed and approved. Shareholder approval pending via Postal Ballot.
Reference Regulation: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Regulation 30 read with Schedule III
Additional Details:
The transaction constitutes a Related Party Transaction under Regulation 2(1)(zb), Regulation 23 and other applicable regulations of SEBI (LODR) Regulations 2015
The aggregate value exceeds the materiality threshold for related party transactions prescribed under Regulation 23(4)
Sundaram Finance Limited (promoter of TSF Investments) is not interested in the transaction
Persons belonging to the promoter group are interested only to the limited extent of their shareholdings, if any (forming part of public shareholding)
Transaction is at "arm's length"
No governmental or regulatory approvals required beyond shareholder approval
Target Company Background:
Wheels India Limited was incorporated on 13.06.1960
Industry: Manufacturing of Parts & accessories for motor vehicles, Parts & accessories for machinery/equipment used by construction/mining Industries, Components for wind turbines
Financial Performance:
2025-26 Total Turnover: ₹5124.40 Cr
2024-25 Total Turnover: ₹4424.86 Cr
2023-24 Total Turnover: ₹4619.03 Cr
Board Meeting Details:
Commenced at 12:00 Noon and concluded at 01:00 P.M. on 19.08.2026
