Wheels India Ltd (WIL), an Indian manufacturer of steel wheels and cast iron wheels, has infused €50,000 into its newly formed entity and subsidiary WIL Europe GmbH, Germany, according to a company regulatory filing on Monday, July 14.
The subsidiary WIL Europe GmbH is in the process of formation and is yet to commence operations. It is being developed to expand and do business activities in Europe, the company said.
The company would be engaged in automotive and non-automotive related activities and services, and also in supply chain management and other allied services. The capital infusion was through a cash consideration of 50,000 equity shares having a face value of one euro each, the company said.