Titan Europe has raised the open offer price for acquisition of 14.38% stake in Wheels India to Rs 752.81 an equity share from earlier price of Rs 725.38. The tender period commences on February 8 and closes on February 22. Titan Europe currently holds 35.91 per cent i.e., 35.44 lakh shares in Wheels India.
Wheels India is promoted by the TVS Group and was started in the early sixties to manufacture automobile wheels. Today, Wheels India has grown as a leading manufacturer of steel wheels for passenger cars, utility vehicles, trucks, buses, agricultural tractors and construction equipment in India.
