The firm has been reducing stake gradually in the company
Current Affairs : Titan Europe Ltd, the outside accomplice of TVS Group organization’s Wheels India Ltd, has chosen to diminish its stake by selling five percent to 10 percent in the organization. TVS Group firm and advertiser of the organization, Sundaram Finance Holding, will purchase out the stake from the outside accomplice.
Estimation of the stake deal is evaluated at around Rs 60 crore, in view of the presumption that Sundaram Finance Holdings Limited (SFHL) would have the option to get 1,225,000 offers.
Titan Europe, an advertiser of Wheels India, toward the finish of a year ago held 34.23 percent stake in the auto part producer and diminished it to 20 percent by end of March, 2020. The firm has been diminishing stake bit by bit in the organization.
Titan Europe is a worldwide designing gathering that makes wheels. As per reports, in 2012-13, Titan Europe gave an open proposal to procure 14.38 percent stake in Wheels India for around Rs 103 crore, and a full reaction to the offer may have moved the control of Wheels India from TVS Group, with a dominant part stake of more than 50 percent held by the remote accomplice.
Wheels India was advanced by the TVS Group and has since quite a while ago had a specialized money related organization with Titan Europe.
Aditi Mehta 