M&A

M&A

Wheels India to merge Sundaram Hydraulics with itself

BSE Announcement  

Sundaram Hydraulics Ltd (SHL), engaged in the business of design, manufacture and distribution of hydraulic cylinders for the domestic and global mining and construction industry, is to be merged with fellow Chennai-based TVS Group promoted publicly listed Wheels India Ltd (WIL). SHL had reported a turnover of INR 57.5 crore for FY21. As per the share exchange ratio, the shareholders of SHL will receive 151 equity shares of WIL (of face value of INR 10 each) for every 15,000 equity shares (of FV INR 10) held by them ikn SHL.