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Wheels India scales new high on its foreign partner planning to raise stake in company

14 Dec 2012 Evaluate

Wheels India is currently trading at Rs. 834.60, up by 94.50 points or 12.77% from its previous closing of Rs 740.10 on the BSE.

The scrip opened at Rs 769.90 and has touched a high and low of Rs 870.00 and Rs 769.90 respectively. So far 32296 shares were traded on the counter.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 870.00 on 14-Dec-2012 and a 52 week low of Rs 233.00 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs 870.00 and Rs 717.35 respectively. The current market cap of the company is Rs 848.77 crore.

The promoters holding in the company stood at 85.62% while Institutions and Non-Institutions held 4.39% and 9.99% respectively.

Wheels India's foreign partner Titan Europe Plc is likely to raise stake in the company by acquiring shares from the public. After this transaction, which is estimated to be around Rs 102.96 crore, the foreign partner will become a majority shareholder.

At present, Titan Europe holds 35.91% that is 35.44 lakh shares in Wheels India. The open offer for public shareholders is being made following foreign promoter Titan International’s acquisition of Titan Europe Plc. The acquisition will be through an open offer to acquire 1,419,405 shares constituting 14.38% of the fully diluted voting equity share capital of Wheels India from public shareholders.

Wheels India Share Price

1043.75 -30.20 (-2.81%)
21-Apr-2026 16:59 View Price Chart
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