Wardwizard Innovations updates on rights issue; stock gains 1%

21 Apr 2022 , 09:17 AM

WardWizard Innovations and Mobility Ltd, one of manufacturers of the country’s leading electric two-wheeler brand Joy e-bike has got full subscription for its Right Issue of Rs.23, 24, 82, 423 comprising of 56,70,303 Rights Issue Shares, where promoters of the company did not participate.

Further, the company has plans to utilize the right issue proceeds for working capital requirement & other corporate general business purposes.

Notably, the Rights Issue was opened for subscription on February 07, 2022 and closed on March 08, 2022. The Issue saw good response from the shareholders/investors across the country, said company.

“The Board/Committee of the company will meet soon to decide on the schedule for making Second Call for the Rights Issue,” it further added in a filing.

At around 9:17 AM, Wardwizard Innovations was trading at Rs72.05 per piece higher by 1.12% on the BSE.