TSF Investments To Acquire 1.05% Stake In Wheels India For ₹38.96 Crore
TSF Investments Limited (formerly known as Sundaram Finance Holdings Limited) has approved the acquisition of an additional equity stake in its associate company, Wheels India Limited (WIL). The decision was taken at the company’s Board of Directors meeting held on July 31, 2026, as part of its strategy to strengthen its investment in the automotive components manufacturer.
Key Highlights of the Transaction
The proposed acquisition will be executed through a block deal window mechanism or any other mode permitted under applicable stock exchange regulations.
The key details of the transaction are as follows:
- Target Company: Wheels India Limited (WIL)
- Number of Equity Shares: 2,56,547 shares
- Face Value: ₹10 per equity share
- Equity Stake to be Acquired: 1.050% of the paid-up equity share capital
- Acquisition Price: ₹1,518.62 per share
- Total Consideration: Approximately ₹38.96 crore
- Mode of Payment: Cash
- Seller: Richer Sundaram Santana & Family Private Limited (TSSFPL)
- Expected Completion Date: On or after August 7, 2026
Strategic Objective
TSF Investments stated that the acquisition is aimed at consolidating its shareholding in Wheels India Limited, reinforcing its long-term investment in the company.
The transaction has been classified as a related party transaction and will be carried out on an arm’s length basis, with the acquisition price determined according to prevailing market prices. The proposal has also received the approval of the company’s Audit Committee.
About Wheels India Limited
Wheels India Limited is one of India’s leading manufacturers of automotive and engineering components. The company manufactures a wide range of products, including:
- Parts and accessories for motor vehicles
- Components for construction and mining equipment
- Wind turbine components
- Steel wheels and other engineered products
The company caters to both domestic and international markets across multiple industrial segments.
Financial Performance of Wheels India
Wheels India has reported consistent revenue growth over the past three financial years:
| Financial Year | Turnover |
|---|---|
| FY2025-26 | ₹5,124.40 crore |
| FY2024-25 | ₹4,424.86 crore |
| FY2023-24 | ₹4,619.03 crore |
The increase in turnover during FY2025-26 highlights the company’s continued business growth and strengthening market position.