Wardwizard Innovations Rights Issue dates 26 September – 24 October 2025.
Founded in 2016 and headquartered in Vadodara, Wardwizard Innovations & Mobility is a pioneering electric vehicle (EV) manufacturer in India. The company, which was previously known as Manvijay Development Company Limited, underwent a significant transformation in 2019 when it shifted its focus to the EV sector. Wardwizard is recognized for its commitment to sustainable transportation through its flagship brands, Joy e-bike, and Joy e-rik, which offer a range of electric scooters and three-wheelers designed to reduce emissions and operational costs while providing efficient commuting solutions.
The manufacturing unit of Wardwizard is situated in Vadodara and is equipped with advanced technology to support high-volume production. Initially inaugurated with a capacity of 1,00,000 units per year, the facility has undergone upgrades to expand its capacity to 6,00,000 units annually at full capacity. This state-of-the-art plant not only assembles electric two-wheelers but also focuses on producing essential components for the EV industry, including lithium-ion batteries and electronic parts. The company has invested significantly in developing infrastructure to support these operations, including a lithium-ion battery assembly line with a capacity of 1 GWh that began operations in early 2023.
Promoters of Wardwizard Innovations & Mobility – Yatin Gupte, and Wardwizard Solutions India Private Limited
Table of Contents
Wardwizard Innovations Rights Issue Details
| Wardwizard Innovations Rights Issue Date | 26 September – 24 October 2025 |
| Wardwizard Innovations Rights Issue Price | INR 11 per share |
| Issue Size (in Shares) | 4,43,17,963 shares |
| Issue Size (in INR) | INR 48.75 crore |
| Issue Entitlement | 17 equity shares for every 100 equity shares held on record date |
| Terms of Payment | Fully payable at the time of application |
| Wardwizard Innovations Rights Issue Record Date | 19 September 2025 |
| Face Value | INR 1 per share |
| Listing On | BSE |
Wardwizard Innovations Rights Issue Calculation
| Wardwizard Innovations Rights Issue Price | INR 11 per share |
| Market Price on Rights Issue Approval | INR 13.92 per share |
| Dilution Factor (X) | 1.17 |
| Fair Value After Dilution at Prevailing Price | INR 13.50 per share |
Wardwizard Innovations Financial Performance
| FY 2023 | FY 2024 | FY 2025 | |
| Revenue | 239.0 | 321.0 | 305.0 |
| Expenses | 220.0 | 289.0 | 268.0 |
| Operating Margin (%) | 8.0 | 10.0 | 12.0 |
| Net Income | 8.85 | 13.44 | 6.27 |
| ROCE (%) | – | 17.0 | 12.0 |
Wardwizard Innovations Rights Offer Objectives
The net proceeds from the offer are proposed to be used for
- Augmentation of working capital requirements of the company – INR 42 crore
- General corporate purposes
Wardwizard Innovations Rights Offer Documents
- Wardwizard Innovations Rights Issue Application Form
- Wardwizard Innovations Letter of Offer
- Board Meeting Outcome
- Wardwizard Innovations Draft Letter of Offer
- Rights Issue in 2024
Wardwizard Innovations Rights Issue Dates
| Rights Issue Approval Date | 10 September 2025 |
| Rights Issue Record Date | 19 September 2025 |
| Credit of Rights Entitlement | 25 September 2025 |
| Rights Issue Opening Date | 26 September 2025 |
| Last Date for Market Renunciation | 1 October 2025 |
| Rights Issue Closing Date | 24 October 2025 |
| Finalization of Basis of Allotment | October 2025 |
| Rights Allotment Date | October 2025 |
| Credit Date | October 2025 |
| Listing Date | October 2025 |
Wardwizard Innovations Rights Offer Registrar
PURVA SHAREGISTRY (INDIA) PVT. LTD LIMITED
Unit no. 9 Shiv Shakti Ind.Estt. J .R.
Borichamarg Lower Parel (E) Mumbai 400 011
Phone: +91-22-4961 4132 / 4134 3264
Email: [email protected]
Website: www.purvashare.com
Wardwizard Innovations Contact Details
WARDWIZARD INNOVATIONS & MOBILITY LIMITED
Survey 26/2, Opposite Pooja Farm, Sayajipura,
Ajwa Road, Vadodara, Gujarat – 390019
Phone: +91 6358849385
Email: [email protected]
Website: www.wardwizard.in
Wardwizard Innovations Rights Offer FAQs
What is the Wardwizard Innovations Rights Issue Price?
The issue price is INR 11 per share.
What is the Wardwizard Innovations Rights Issue entitlement ratio?
The eligible shareholders are offered 17 Equity Shares for every 100 Equity Shares held on the record date.
What is the Wardwizard Innovations Rights Issue Record Date?
The Record date is 19 September 2025.
How to Apply in Wardwizard Innovations Rights Offer?
The best way to apply in Wardwizard Innovations Rights Offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an application Form form and deposit the same to your broker.