Steel Strips Wheels (SSWL), a producer of automobile wheel rims, announced that Kalink have confirmed to subscribe SSWL's equity shares at Rs 640 a share for the said investment of USD 2 million.

The company said, the board of directors of SSWL will consider the same in the ensuing board meeting to be held in October, 2015.

On Sept. 21, 2015, the company had informed that Kalink will invest an amount equivalent to USD 2 million by subscribing equity shares in SSWL as per applicable Acts, rules and regulations and as per the terms and conditions as may be mutually agreed between both the parties.

Shares of the company declined Rs 11.3, or 3.26%, to trade at Rs 334.90. The total volume of shares traded was 14,491 at the BSE (1.44 p.m., Tuesday).