Titan Europe likely to sell 10% stake in Wheels India valued at Rs 60 cr

The firm has been reducing stake gradually in the company

Titan Europe Ltd, the foreign partner of TVS Group company's Wheels India Ltd, has decided to reduce its stake by selling five per cent to 10 per cent in the company. TVS Group firm and promoter of the company, Sundaram Finance Holding, will buy out the stake from the foreign partner.

Value of the stake sale is estimated at around Rs 60 crore, based on the assumption that Sundaram Finance Holdings Limited (SFHL) would be able to acquire 1,225,000  shares.

Titan Europe, a promoter of Wheels India, in