Wheels India Ltd Seeks ₹400 Cr Fundraise via Equity Issuance

Wheels India Ltd announced its Board of Directors has approved a fundraise of up to ₹400 Crores. The funds will be raised through various equity instruments, including equity shares, convertible preference shares, non-convertible debt instruments with warrants, fully/partly convertible debentures, and other convertible securities. The issuance can be in one or more tranches, through domestic or foreign markets, via public/private offerings, rights offering, or preferential allotment including QIP. The Fundraise Committee has been authorized to finalize the terms and conditions. The company will also conduct a postal ballot to seek shareholder approval for the proposed issuance.