Pursuant to the public announcement on December 13 regarding the acquisition of shares in Wheels India, Titan Europe plc. the acquirer, and Titan International inc, (the person acting in concert)have informed that the open offer price to acquire up to 14.19 lakh equity shares from public shareholders of Wheels India has been enhanced to Rs. 752.81 per share. This offer will include an interest component of Rs. 27.43 per share. The interest rate has been calculated at the rate of 10 per cent per annum from August 10, the date of trigger of the offer, to December 25 (the date of publishing this detailed public statement).
The date of commencement of tendering period will be February 8, 2013, and the date of closing will be February 22.