Wheels India Ltd to consider rights issue

The Board of Directors of Wheels India Ltd proposes to pass the following resolution(s) by Circulation on December 16, 2013, to consider the issue of equity shares on Rights basis for the purposes of complying with the minimum public shareholding requirements applicable to the Company, by way of a rights offering to the public shareholders of the Company with the promoters and promoter group shareholders of the Company foregoing their rights entitlement, as permitted by the SEBI pursuant to the SEBI circular No. CIR/CFD/DIL/11/2012 dated August 29, 2012.

Shares of Wheels India Ltd was last trading in BSE at Rs.774.90, up by Rs.6.45 or 0.84%. The stock hit an intraday high of Rs.794.20 and low of Rs.768.90.

The total traded quantity was 0.18 lakhs as compared to 2 week average of 6770.

Source : Equity Bulls

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