Board Meeting31 Aug 2026, 07:51 pm
Wheels India Revises Preferential Issue Price to ₹1,461
AI Summary
Wheels India Ltd announced an update following a board meeting on August 31, 2026, regarding its proposed preferential issue. The board approved a revision in the issue price from ₹1,418 to ₹1,461 per equity share. This adjustment was made in response to observations from the National Stock Exchange (NSE) concerning the valuation. Consequently, the number of equity shares to be issued will be revised, though the total funds to be raised, not exceeding ₹180 Crore, remain unchanged. The company will also issue a corrigendum to the notice of the Extraordinary General Meeting (EGM) scheduled for September 17, 2026.
Key Highlights
- Board approved revised preferential issue price of ₹1,461 per share.
- Original issue price was ₹1,418 per share.
- Total funds raised remains unchanged at approximately ₹180 Crore.
- Revision follows NSE observations on share valuation.
- EGM notice to be amended via corrigendum.
Price Impact
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