Chennai: Auto components maker Wheels India plans to raise up to Rs 400 crore through a mix of equity and debt securities as it looks to support future growth initiatives.The company received board approval at a meeting held on Friday, and the capital may be raised through multiple routes, including public issues, private placements, rights issues, preferential allotments and Qualified Institutional Placements (QIPs), subject to the necessary statutory and shareholder approvals, according to a statement.The proposed capital raise comes as Wheels India continues to pursue growth opportunities across its automotive and industrial businesses.Wheels India has proposed a capex of around Rs 300 crore in FY27 to expand the capacity of parts used in tractors, windmill components, hydraulic cylinders and air suspension businesses.The higher-than-last-fiscal capex has been necessitated by strong demand across businesses, particularly for air suspension systems, wind energy components and hydraulics.The company’s bus air suspension business reported strong double-digit growth in FY26, driven by the upgrading of state transport corporation fleets and the increasing penetration of the e-bus segment. Wheels India, a leading supplier of bus air suspension systems in the country, also benefited from higher content as some customers opted for both front and rear air suspension systems.
