Wheels India Limited, in collaboration with Brakes India Private Limited (BIPL), has entered into a joint venture agreement with Bosch Limited. This strategic partnership aims to develop and produce solutions for the commercial vehicle (CV) air system segment in India.
The joint venture company, which will be executed on May 20, 2026, will see Bosch Limited holding a 50% stake, while the TSF Companies, including Wheels India and BIPL, will collectively hold the remaining 50% of the share capital. The agreement outlines significant terms, including the right to appoint directors and share transfer restrictions.
The board of the joint venture will consist of four directors, with Bosch and the TSF Companies each nominating two directors. A five-year lock-in period will be in place, during which no share transfers are allowed. However, affiliate transfers are permitted, and competitor transfers post lock-in are allowed with prior written consent from the other joint venture partner.
The joint venture is set to focus on the development and production of solutions for the CV air system segment, with the partners supporting the venture through the production of sub-components, sales, business development, services, distribution, warehousing, and logistics for joint venture products in specified territories.
The subscription to the share capital of the joint venture company does not fall within the purview of related party transactions for Wheels India. Additionally, no conflict of interest has been identified or arises from the execution of the joint venture agreement.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).