Wheels India Approves Fundraising Proposal of Up to ₹400 Crore.

Wheels India Ltd. recently said its board has approved a proposal to raise up to ₹400 crore through the issuance of equity shares and other eligible securities in one or more tranches.

The company said the funds may be raised through equity shares of face value ₹10 each and/or equity-linked instruments, including convertible preference shares, non-convertible debt instruments with warrants, or other permissible securities.

The proposed fundraising may be undertaken in domestic and/or international markets through various routes, including public or private offerings, rights issues, preferential allotments, or qualified institutions placements (QIPs), subject to regulatory and shareholder approvals, where applicable.

The board has authorised its Fundraise Committee to take the necessary steps for the proposed capital raise, including deciding the timing, issue price, terms and conditions, and other related matters.

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