Wheels India Strengthens Position in Axles India, Acquires Additional 3% Stake for ₹22.68 Crore
By HDFC SKY | Updated at: Jan 16, 2026 01:52 PM IST
Chennai, June 25, 2025 — Wheels India Limited (NSE: WHEELS, BSE: 590073) has further strengthened its strategic investment in Axles India Limited by acquiring 7,64,533 equity shares from Forge 2000 Private Limited. The transaction, valued at ₹22.68 crore, was disclosed in a regulatory filing under SEBI LODR Regulation 30.
This acquisition reflects Wheels India’s continued confidence in Axles India’s long-term growth potential and reinforces its commitment to deepening its presence in the automotive components sector.
Transaction Details
The acquisition, approved by the Board and the Audit Committee on June 25, is expected to be completed on or before August 31, 2025. This strategic buy raises Wheels India’s holding in Axles India from 9.51% to 12.51% of the total paid-up share capital.
Shareholding Comparison
| Particulars | Before Acquisition | After Acquisition |
|---|---|---|
| No. of Shares Held | ~24.2 lakh | ~31.9 lakh |
| % Shareholding | 9.51% | 12.51% |
Acquisition Details
| Details | Information |
|---|---|
| Shares Acquired | 7,64,533 |
| Acquisition Cost | ₹22.68 crore |
| Price per Share | ₹296.65 |
| Consideration Type | Cash |
| Expected Completion Date | On or before August 31, 2025 |
Related Party Context
This transaction qualifies as a related party transaction. Forge 2000 Pvt Ltd, the seller, is a wholly owned subsidiary of Sundaram Finance Holdings Ltd, the promoter of Wheels India. The acquisition was approved by the Audit Committee and deemed to be conducted on an arm’s length basis.
About Axles India
Axles India Limited, incorporated in 1980 as a JV among Wheels India, Sundaram Finance, and Eaton Ltd, is engaged in the manufacturing of axle housings for medium and heavy commercial vehicles. Dana Global Products Inc later joined the JV post Eaton’s exit in 1999. Eventually, Sundaram Finance Holdings and its subsidiary Forge 2000 Pvt Ltd acquired Dana’s entire 48.33% stake.
Financial Snapshot of Axles India
| Fiscal Year | Revenue (₹ Crore) |
|---|---|
| 2022–23 | 746 |
| 2023–24 | 855 |
| 2024–25 | 847 |
Strategic Rationale
The move strengthens Wheels India’s strategic stake in a critical component supplier, bolstering its long-term alignment in the commercial vehicle segment. This incremental acquisition reflects a deepening of its collaborative roots with Axles India while reinforcing backward integration.
About Wheels India Ltd:
Wheels India Limited is a listed company engaged in the manufacturing of steel wheels and structural components for commercial vehicles, passenger cars, agricultural equipment, and construction machinery. The company is promoted by Sundaram Finance Holdings Ltd and operates globally with a strong OEM base.
REF: https://nsearchives.nseindia.com/corporate/WHEELS_25062025152943_WILReg30250625.pdf
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