Wardwizard Promoters take decisive action with Significant Fund Infusion

Wardwizard Innovations & Mobility Limited ("WIML") has initiated a strategic business review and announced the infusion of necessary funds by its promoters to drive long-term growth and stability. The infused capital will address key financial objectives, including business support, production enhancement, working capital for streamlined operations and strategic business development initiatives. This aims to bolster operational capabilities, scale up manufacturing, and accelerate strategic growth projects.

Mr. Yatin Gupte, Chairman & Managing Director of Wardwizard Innovations & Mobility Limited, stated, "As promoters, we are deeply invested in the Company's success. We are taking decisive action to strengthen the company's financial foundation and drive sustainable growth. This fund infusion is specifically to enhance the Company's financial performance, ensuring uninterrupted daily operations and growth. We look forward to sharing further developments in Q1 of FY 25-26."

Wardwizard recently launched new vehicle models in December 2024, encompassing both 2W and 3W segments, and entered strategic fleet management partnerships. Additionally, the Company has secured substantial orders from fleet operators and is actively pursuing expansion within the three-wheeler segment. This fund infusion will further enable Wardwizard to capitalize on this momentum and drive sustained growth.

Shares of Wardwizard Innovations & Mobility Ltd was last trading in BSE at Rs. 21.59 as compared to the previous close of Rs. 23.02. The total number of shares traded during the day was 2210661 in over 6381 trades.

The stock hit an intraday high of Rs. 23.33 and intraday low of 21.25. The net turnover during the day was Rs. 48564011.00.

Source : Equity Bulls

Keywords

WardwizardInnovationsandMobility INE945P01024 2Wheelers EV FundInfusion Promoters