Steel Strips Wheels’ promoter -- Chandigarh Developers -- has increased its stake in the company via open market purchase. The promoter, on June 3, 2016, purchased 24,949 equity shares representing 0.17% stake of the company through open market.
Post transaction, total holding of the promoters in the company increased to 59.83% from 59.66% earlier. As of March 2016, the promoters held 59.17% stake in Steel Strips Wheels, the shareholding pattern data shows.
SSWL is a part of the Steel Strips Group, headquartered in Chandigarh. It is engaged in the manufacturing of single piece steel wheel rims in the range of 10 to 30 inches for scooters, passenger cars, utility vehicles and tractors. It supplies rims to almost all major manufacturers of two wheelers, three wheelers, four wheelers, tractors and heavy commercial vehicle.
