Wheels India Limited has initiated a postal ballot process to seek shareholder approval for raising funds up to an aggregate amount of ₹400 crore. The company aims to utilize these proceeds for capital expenditure, repayment of borrowings, funding inorganic growth, and general corporate purposes. The e-voting period commences on July 14, 2026, and concludes on August 12, 2026, providing eligible members the opportunity to vote on the capital infusion plan.

The board's decision, taken on July 10, 2026, authorizes the issuance of equity shares and various equity-linked instruments through multiple channels. The approved instruments include equity shares of face value ₹10, convertible preference shares, non-convertible debt instruments with warrants, and fully or partly convertible debentures. Funds will be raised through public or private offerings, rights offerings, or preferential allotment, including Qualified Institutions Placement (QIP) and External Commercial Borrowings (ECBs). The issuance may occur in one or more tranches across domestic or foreign markets, subject to applicable laws including the Companies Act, 2013, and SEBI regulations.

Ms. S Dhanapal & Associates LLP, Practicing Company Secretaries, has been appointed as the scrutinizer to conduct the postal ballot process. Only members whose names are recorded in the Register of Members or Register of Beneficial Owners as on the cut-off date of July 3, 2026, are entitled to vote. The results of the postal ballot will be announced on or before August 14, 2026.

The following table outlines the key details of the proposed fund raising:

Wheels India Limited declared the voting results for its 67th Annual General Meeting (AGM) held on July 01, 2026, through video conferencing. The meeting saw the adoption of audited financial statements for the year ended March 31, 2026, and the approval of dividends for the financial year 2025-26. Shareholders also voted on the re-election of a director and the appointment of a new Non-Executive Non-Independent Director. The scrutinizer's report confirmed the passing of all six resolutions put to vote.

The voting process was overseen by Ramanathan Nachiappan of M/s. S Dhanapal & Associates LLP, Practising Company Secretaries. A total of 17,745,654 votes were polled, representing 72.63% of the outstanding shares. The resolutions included the adoption of the audited financial statements, declaration of final dividend, re-appointment of Mr. S Viji as Director, ratification of the Cost Auditor's remuneration, adoption of a new set of Articles of Association, and the appointment of Mr. Harsha Viji as a Non-Executive Non-Independent Director.

Voting Summary

The resolutions received overwhelming support from shareholders, though some attracted minor opposition from public institutions and non-institutional shareholders. The resolution to adopt the new Articles of Association saw the highest dissent, with approximately 0.82% of votes cast against it.

Key Approvals

Shareholders approved the re-election of Mr. S Viji (DIN: 00139043), who was retiring by rotation, via a special resolution. The company also secured approval for the appointment of Mr. Harsha Viji (DIN: 00602484) as a Non-Executive Non-Independent Director. Additionally, the remuneration payable to the Cost Auditor for the financial year ending March 31, 2027, was ratified. The meeting concluded with the adoption of a new set of Articles of Association to ensure conformity with the Companies Act, 2013.