Company History - Wheels India
1960 - The Company entered into a technical aid agreement with
Rim & Wheel Co. Ltd., (now a division of Dunlop Ltd., U.K.),
27th June, for the supply of technical know-how for a period
20 years for the manufacture of wheels.
1961 - The Company was incorporated on 28th March at Tamilnadu. The
main objects of the company are to manufacture wheels and
components and accessories thereof and to carry on the
of iron and steel foundres and foundres of non-ferrous
1974 - 30,225 shares issued without payment in cash and 42,321
issued as bonus. 54,567 shares held by T.V. Sundaram Iyengar
Sons, Ltd., 24,807 shares by Southern Roadways, Ltd., 17,181
shares by Sundaram Finances, Ltd., and 7,87,660 shares by
Holdings, Ltd., U.K.
1975 - Shares of Rs.100 each subdivided into shares of Rs.10 each.
4,40,000 shares offered to the public at prem. of Rs.1.50 per
share during June.
1978 - 250 shares forfeited. These shares were re-allotted to
1981 - The Company received a letter of intent for the manufacture of
air suspension system for commercial vehicles. The company
entered into a technical agreement with Dunlop Rim & Wheel
Ltd., in U.K.
- 10,96,605 Bonus shares issued in prop. 1:2.
1983 - The Company received a letter of intent for setting up a
wheel manufacturing unit at Rampur, U.P. with a capacity of
6,00,000 wheels per annum.
1984 - The Company issued 3,00,000-15% secured non-convertible
debentures of Rs.100 each as rights to the existing
for working capital requirements.
1987 - The Company issued 2,00,000-15% secured non-convertible
debentures of Rs.100 each to the financial institutions on
private placement basis.
- The objects of the public issue of capital in June were to
the foreign shareholding in the Company and to raise a part
the resources required for the expansion project. These
debentures will be redeemed in 5 equal instalments on the
of 6th, 7th, 8th and 9th year from the date of allotment,
- The Company was a joint venture of T.V. Sundaram Iyengar &
Ltd., Madurai and Dunlop Ltd., U.K.
- Dunlop Holdings Ltd., U.K., hold 17,72,235 shares in the
representing about 35.91% of the paid-up capital of the
1988 - 16,44,907 bonus equity shares issued in prop. 1:2.
1991 - 3,00,000-15% secured non-convertible debentures of Rs.100
were redeemed in full at a premium of 5% on 7th August.
-Icra has assigned A1+ and A1 ratings to the proposed commercial
paper issue of two TVS group companies
-TITAN Europe Ltd a subsidiary of Titan Wheel International Inc USA
replaces BTR Plc as the new foreign collaborator
2000 - ICRA has assigned an `A+' rating to the enhanced commercial
programme of Rs 40 crores of the company.
- Mr. Srivats Ram has been appointed Director of the
-Co-opted Mr. T K Seshadri, Advocate as Non Executive, Independent
- T S Santhanam, Chairman has resigned from the Board w.e.f. October
30, 2002. and
Mr. S Ram was elected unanimously as the Chairman of the BOD by the
-The Company has declared interim dividend of 28%.
-Credit rating agency ICRA has reaffirmed A1 plus rating.
-Appointment of DirectorsMr. T S Vijayaraghavan and Mr. S Prasad, as
Non-Executive, Independent, Additional Director
-Mr. Srivats Ram, Executive Director has been appointed as Joint
-A new factory at Uttaranchal for manufacture of wheels for passenger
cars / utility vehicles and agricultural tractors.
-The Company's new plant for manufacture of wheels for Earth Moving &
Construction Equipment at Sriperumbudur, Chennai was inaugurated.
-The Company and Sundaram Finance Ltd will hold a stake of 49% each
in the paid-up capital of Sundaram Hydraulics Ltd.
-Wheels India Ltd, is entering the power sector.
-The Company have recommended a dividend of Rs. 4.50 per share.
-All India Organisation of Employers' (AIOE), an allied body of
Federation of Indian Chambers of Commerce and Industry (FICCI) Award
for Outstanding Industrial Relations
-The Company have recommended a dividend of Rs. 6.50 per share.
-The Company have recommended a final dividend of Rs.6/- (60%) per
-Wheels India inks deal with Turkey-based EGE Endustri.
-Wheel and Tyre Assembly at Bidadi has bagged Best Eco Awareness OSS
-Wheels India Limited wins the prestigious CV auto component of the
-Wheels India has announced Rights in the Ratio of 51:20