Type of Deal: Acquisition of minority stake through interse transfer between promoters
Stake/Capacity: 256,547 equity shares of ₹10 each, representing 1.050% of the paid-up equity share capital
Deal Value: ₹1,518.62 per share (exact total consideration not specified)
Funding Source: Cash consideration
Financial Impact: Not disclosed in the document beyond the acquisition price per share
Timeline: The acquisition is scheduled to be completed on or after 7th August 2026
Strategic Rationale: To consolidate the shareholdings in Wheels India Limited, which is an associate company
Approval Status: Board of Directors approved on 31.07.2026. Audit Committee has approved this transaction as it qualifies as a related party transaction under section 2(76) read with section 188 of the Companies Act, 2013 and Reg. 23 of the SEBI (LODR) Regulations, 2015
Transaction Mechanism: The transaction will be executed through the block deal window mechanism of the stock exchange(s) or any other mechanism at a price permitted under the regulatory framework on the execution date
Related Party Aspects: The transaction is with Trichur Sundaram Santhanam & Family Private Limited (TSSFPL), which is part of the promoter group of TSF Investments Limited. The company confirms that Sundaram Finance Limited, the promoter of TSFIL, does not hold any shares in WIL. Persons belonging to the promoter group/group companies of TSFIL are interested in WIL only to the limited extent of their shareholdings, if any (forming part of public shareholding)
Target Company Background:
Wheels India Limited was incorporated on 13.06.1960
Business: 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: ₹5,124.40 crore
2024-25 Total Turnover: ₹4,424.86 crore
2023-24 Total Turnover: ₹4,619.03 crore
Meeting Details: Board meeting commenced at 11:00 AM and concluded at 11:40 AM on 31.07.2026
