Wheels India Limited has informed the Exchange about Acquisition
WHEELS · price
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Wheels India Limited has acquired 3,43,245 equity shares (32.65% stake) of Emerge Solar One Private Limited for Rs. 3.43 crores in cash. Emerge Solar One is a solar power generation company based in Tamil Nadu with a capacity of 13.864 MWp DC. The target company was incorporated in October 2024 and is a subsidiary of EG Green Parks Private Limited. Currently, the target has not commenced operations and has NIL turnover. The acquisition is aimed at procuring solar power under a captive generation scheme, with approval required from TANGEDCO. This is not a related party transaction and was completed on April 30, 2026.
This acquisition represents Wheels India's strategic move into renewable energy for captive power consumption, potentially reducing long-term energy costs. The deal size is modest at Rs. 3.43 crore, so immediate material impact on Wheels India's financials is limited, but signals diversification beyond its core automotive components business.