Wheels India Ltd Announces Open Offer From Titan Europe Plc And Titan International, Inc

Wheels India Ltd announced that ICICI Securities Ltd (Manager to the Offer), for and on behalf of Titan Europe Plc (Acquirer) and Titan International, Inc. as the Person Acting in Concert (PAC) has informed this Public Announcement (PA) regarding Open Offer to acquire 1,419,405 fully paid-up equity shares of face value of INR10 each from the public shareholders of Wheels India Ltd (Target Company) (Equity Shares) constituting 14.38% of the fully diluted voting equity share capital of the Target Company as of the 10th working day from the closure of the tendering period (Offer Size). The Offer Price of INR725.38 payable per fully paid up Equity Share. Since this Open Offer is being made as a result of indirect acquisition of shares / control of the Target Company, the Offer Price shall be revised in terms of Regulation 8(12) of the SEBI (SAST) Regulations and such revised price shall be included in the Detailed Public Statement.