Wheels India has revised the issue price for its proposed preferential equity share offering to ₹1,461 per share. The Board of Directors approved the change on August 31, 2026, following observations from the National Stock Exchange of India Limited regarding valuation. The total funds raised through the issue remain unchanged at ₹180 crore.

The company initially approved an issue price of ₹1,418 per share in its board meeting held on August 19, 2026. The NSE issued a letter dated August 27, 2026, raising specific observations related to the valuation of the equity shares during the in-principle approval process. In response, the board adjusted the price and recalculated the number of shares allotted to each investor to maintain the aggregate consideration.

Revised Allotment Details

The total number of equity shares proposed for issuance is now 12,69,391. The face value of each share remains ₹10. The revised allotment structure distributes the shares among four proposed allottees as follows:

TSF Investments Limited continues to be the largest recipient, accounting for approximately 81% of the total shares issued. The individual allottees Srivats Ram, Nivedita Ram, and Gita Ram receive equal proportions relative to their previous allocations, adjusted for the new share count.

Corporate Action Updates

The company has issued a corrigendum to the notice of the Extraordinary General Meeting (EGM) scheduled for September 17, 2026. This update reflects the revised issue price and share counts as per the NSE’s requirements. The board meeting that finalized these changes commenced at 4:15 pm and concluded at 4:45 pm on August 31, 2026.

The disclosure was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shareholders will receive the updated EGM notice prior to the meeting date.

Wheels India Limited promoters completed an inter-se transfer of 2,56,547 equity shares on August 7, 2026, with TSF Investments Limited acquiring the stake from Trichur Sundaram Santhanam & Family Private Limited. The transaction, valued at ₹1,518.62 per share, represents 1.050% of the company’s paid-up equity capital and increases TSF’s total holding to 25.007%, while reducing the seller’s stake to 28.804%. This restructuring of promoter holdings was disclosed to stock exchanges under Regulation 10(6) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The disclosure follows an initial intimation filed on July 31, 2026, under Regulation 10(5) of the SEBI Takeover Regulations. TSF Investments Limited, formerly known as Sundaram Finance Holdings Limited, relied on the exemption provided under Regulation 10(1)(a)(ii) to avoid making an open offer. S. Kalyanaraman, Secretary & Compliance Officer of TSF Investments Limited, signed the report submitted to both the National Stock Exchange of India Limited and BSE Limited.

Transaction Details

The inter-se transfer involves equity shares with a face value of ₹10 each. The transaction details are as follows:

Post-Transaction Shareholding

Following the transfer, the promoter shareholding structure of Wheels India Limited has been adjusted. TSF Investments Limited now holds 61,09,914 shares, while Trichur Sundaram Santhanam & Family Private Limited holds 70,37,967 shares.

What the Numbers Show

The transaction consolidates the promoter group’s control by shifting ownership from the family private limited entity to the main investment holding company. TSF Investments Limited’s stake crossing the 25% threshold is notable as it reinforces its position as the largest single promoter entity within the group, although the combined promoter holding remains unchanged. The premium price of ₹1,518.62 per share reflects the internal valuation agreed upon between the related parties for this regulatory compliance exercise.