Waywizard Innovation Rights Issue
Wardwizard Innovations & Mobility Ltd, led by Mr. Yatin Gupte, has emerged as one of India’s leading players in the electric vehicle (EV) segment, driving the nation’s shift toward sustainable and affordable mobility. The company designs and manufactures electric two-wheelers and three-wheelers suited for Indian conditions, combining innovation, reliability, and efficiency.
The company operates a state-of-the-art facility at Vadodara, Gujarat, spread over 1,10,000 sq. ft., with a production capacity of 1.2 lakh units per shift, scalable to 3–4 lakh units annually. It has also set up a new assembly unit at Deoghar, Jharkhand, with a capacity of 20,000 units per year, catering to eastern and northeastern India and targeting exports to Nepal.
Wardwizard’s product range includes electric scooters and three-wheelers such as E-Rik, E-Cart Garbage Container, and E-Loader, catering to both personal and commercial use. Features like anti-theft systems and reverse mode enhance convenience and safety.
Through continuous innovation, expansion, and customer-centric focus, Wardwizard is playing a key role in accelerating EV adoption and shaping India’s green mobility future.
Current Market Price Rs. 11.60 as on 16 October 2025
Right Issue Offer price Rs. 11
Rights Issue Details
| Issue Open | September 26, 2025 – October 24, 2025 |
| Security Name | Wardwizard Innovations & Mobility Ltd |
| Issue Size (Shares) | 4,43,17,963 |
| Issue Size (Amount) | Rs.48.75 Crores |
| Issue Price | Rs.11 per share |
| Face Value | Rs.1 per share |
| Listing At | BSE |
| Terms of Payment | Full Payment will be payable at the time of application. |
| Entitlement | 17 Rights Equity Share(s) for every 100 fully paid-up Equity Shares held on Record Date |
Rights Issue Timetable
| Last Date to buy shares | 18-Sep-25 |
| Record Date | 19-Sep-25 |
| Credit of Rights Entitlements | 25-Sep-25 |
| Bid/Offer Opens On | 26-Sep-25 |
| Renunciation of Rights Entitlements | 01-Oct-25 |
| Bid/Offer Closes On | 24-Oct-25 |
| Deemed Date of Allotment | |
| Credit Date | |
| Listing Date |
Objects of the Rights Issue
The Company intends to utilize the Net Proceeds from the Issue towards funding the following objects:
- For Working Capital Purposes; and
- General Corporate Purposes.
Financial Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 |
| Assets | 412.86 | 285.39 |
| Total Income | 305.35 | 321.63 |
| Profit After Tax | 6.36 | 13.44 |
| Amount in Rs Crore | ||
Company Contact Information
Wardwizard Innovations & Mobility Ltd
Office No. 4604, 46th Floor, Kohinoor Square
Kelkar Marg, Shivaji Park, Dadar (West),
Nr. R.G Gadkari chowk, Shivaji Park
Mumbai, 400028
Website: https://wardwizard.in/
Lead Manager of the Rights Issue
Registrar
Purva Sharegistry (India) Pvt.Ltd.
Where to check allotment of Rights issue? https://www.purvashare.com/investor-service/ipo-query
Wardwizard Innovations & Mobility Ltd – Rights Issue Review
(By Paresh Gordhandas, CA & Research Analyst)
Wardwizard Innovations & Mobility Ltd, led by Mr. Yatin Gupte, is a well-known name in the electric vehicle (EV) segment, manufacturing a wide range of electric two-wheelers and three-wheelers under the Joy e-bike brand. With modern facilities in Vadodara (Gujarat) and Deoghar (Jharkhand), the company aims to strengthen its position in India’s fast-growing green mobility market.
The company has announced a Rights Issue of Rs. 48.75 crore at Rs. 11 per share, marginally below its CMP of Rs. 11.60, offering a small discount. The proceeds will be used mainly for working capital and general corporate purposes, enabling smoother operations and expansion of EV production and distribution.
Financially, Wardwizard reported Total Income of Rs. 305.35 crore in FY25, compared to Rs. 321.63 crore in FY24, while PAT stood at Rs. 6.36 crore, lower than the previous year’s Rs. 13.44 crore due to higher expenses amid capacity ramp-up. However, the asset base has strengthened, reflecting continued investment in manufacturing infrastructure.
Chanakya View:
The Rights Issue is small-sized but strategically important for strengthening liquidity and supporting future growth. With increasing EV adoption and Wardwizard’s expanding dealer network, existing shareholders can subscribe for long-term participation in the EV story. However, fresh investors should wait for visible margin improvement before taking new exposure.
