Wheels India Ltd approves rights issue price of Rs. 400

The "Committee - Capital Issues" constituted by the Board of Directors of Wheels India Ltd, in its meeting held on February 03, 2014, has decided and approved the terms in relation to the proposed rights issue of equity shares of the Company ("Issue").
The Board fixed the rights issue price as Rs. 400/- (Rupees four hundred only) per Equity Share (including premium of Rs. 390/- per share).

The Rights entitlement ratio for the Issue is fixed as 51 Equity shares for every 20 Equity shares held by Eligible Equity Shareholders as on the record date.

All the equity shares to be issued pursuant to the Issue shall rank pari passu with the existing equity shares of the Company. The No of Equity shares Offered through this issue is 21,62,835.

Shares of Wheels India Ltd was last trading in BSE at Rs.1052, down by Rs.4 or 0.38%. The stock hit an intraday high of Rs.1088 and intraday low of Rs.1044.25.

The total traded quantity was 0.29 lakh shares as compared to 2 week average of 0.23 lakh shares.