The Board of Directors of Wheels India Limited has approved a proposal to raise up to ₹400 crore through the issuance of equity shares and/or other eligible securities, subject to the necessary statutory and regulatory approvals. The fund raising may be undertaken through one or more tranches in domestic and/or international markets using appropriate routes, including public issues, private placements, rights issues, preferential allotments, or Qualified Institutions Placements (QIP). The proposed issue may comprise equity shares of face value ₹10 each and/or equity-linked instruments, including convertible preference shares, fully or partly convertible debentures, non-convertible debt instruments with warrants, or other securities convertible into equity shares, either individually or in combination.
To facilitate the proposed capital raising, the Board has constituted and authorised its Fundraise Committee to oversee the process. The committee has been empowered to determine the timing of the issue, pricing, structure, terms and conditions, investor participation, and all other matters necessary for the successful execution of the transaction, in accordance with applicable laws and regulatory requirements.
The proposed fund raising is intended to provide the company with additional financial flexibility to support its business priorities, strengthen its capital base and pursue future growth opportunities. Wheels India reported a strong financial performance during the previous financial year, recording revenue of ₹5,124 crore and a net profit of ₹139 crore, reflecting the company’s continued focus on operational excellence and market expansion across its key business segments.
One of India’s leading automotive component manufacturers, Wheels India serves a diverse range of domestic and global customers across commercial vehicles, passenger vehicles, agriculture, construction and industrial sectors. The company manufactures steel wheels for trucks, buses, agricultural tractors, passenger vehicles and construction equipment. Its product portfolio also includes air suspension systems for trucks and buses, as well as precision-engineered industrial components for the construction and wind energy industries.
Wheels India Ltd is among India’s leading manufacturers of wheels for trucks, agricultural tractors, passenger vehicles, and construction equipment. The company also manufactures air suspension systems for trucks and buses, along with industrial components serving the construction and windmill sectors. Its manufacturing footprint spans Tamil Nadu, Maharashtra, Uttar Pradesh, Uttarakhand, and Andhra Pradesh.
The company is part of the TSF Group, which traces its heritage back to 1936 and represents the TS Santhanam branch of the erstwhile TVS Group. The group operates across automotive manufacturing, distribution, vehicle dealerships, financing, and financial services. TSF Group companies together employ more than 42,000 people, operate 36 manufacturing facilities and over 1,200 branches, and generate combined revenues exceeding Rs. 29,000 crore.
