TSF Investments Approves Subscription for Wheels India Limited Preferential Issue
TSF INVESTMENTS LIMITED, formerly known as Sundaram Finance Holdings Limited, has approved the subscription to the preferential issue of equity shares offered by Wheels India Limited on a private placement basis. The decision was ratified by the company’s Board of Directors during a meeting held on August 19, 2026.The transaction involves TSF subscribing to 10,57,827 equity shares of Wheels India Limited at an issue price of ₹ 1418/- per share. This subscription includes a premium of ₹ 1408/- per equity Share. The proposed aggregate value of the transaction is not expected to exceed ₹ 150 Crores.
TSF INVESTMENTS LIMITED confirmed that the proposed subscription constitutes a Related Party Transaction. Since the transaction’s aggregate value exceeds the materiality threshold for related party transactions, TSF is taking necessary steps to seek approval from shareholders through a Postal Ballot. The Audit Committee has reviewed and approved the proposed acquisition.
The company anticipates completing the proposed transaction on or before September 30, 2026, subject to receiving shareholder approval.
Transaction Details and Target Company Profile
TSF confirmed that Sundaram Finance Limited, the promoter of TSF INVESTMENTS LIMITED, is not interested in the transaction. Furthermore, persons belonging to the promoter group are invested in Wheels India Limited only to the limited extent of their shareholdings held within the public shareholding.Wheels India Limited operates in the manufacturing of parts and accessories for motor vehicles, as well as components for wind turbines and machinery used by construction and mining Industries. The company's total turnover as on March 31, 2026, stood at Rs. 5124.40 Cr.
Key details regarding the subscription to Wheels India Limited are summarized below:
| Particulars | Details |
|---|---|
| Company Subscribing | TSF INVESTMENTS LIMITED |
| Target Entity | M/s Wheels India Limited |
| Shares Acquired | 10,57,827 |
| Issue Price per Share | ₹ 1418/- |
| Total Transaction Value | Not exceeding ₹ 150 Crores |
| Target Industry | Manufacturing of Parts & accessories for motor vehicles and wind turbine components. |
The turnover of Wheels India Limited across the last three financial years has been as follows:
| Financial Year | Total Turnover (Cr.) |
|---|---|
| 2025-26 | 5124.40 |
| 2024-25 | 4424.86 |
| 2023-24 | 4619.03 |
TSFINV Stock Price Movement
Shares of TSF INVESTMENTS LIMITED today slipped by 0.07% to settle at ₹414.7 in the post-market session. The stock recorded a total traded volume of 38,917 shares during the day's trading.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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