The stock of Wheels India surged 15.4 per cent or Rs 114 to a life-time high on the BSE, after one of its promoters made an open offer to buy 14.38 per cent stake from public shareholders. Wheels India opened at Rs 815.05, a gain of Rs 74.95 or 10 per cent. Titan Europe Plc. along with Titan International Inc. has made an open offer to buy 14.38 per cent stake in TVS group company Wheels India for about Rs 103 crore. Titan Europe already holds 35.91 per cent (35.44 lakh shares) in Wheels India. The open offer for public shareholders is being made following foreign promoter Titan International’s acquisition of Titan Europe Plc.

Source - http://www.thehindubusinessline.com