Wardwizard Innovations and Mobility Ltd approves rights issue of Rs. 49 crores

The Board of Directors of Wardwizard Innovations & Mobility Ltd in its meeting held on 20 September, 2021 have considered and approved the proposal to raise Fund for an amount not exceeding Rs. 49,00,00,000/- (Rupees Forty-nine crores only), through a Right Issue to the eligible equity shareholders of the Company as on Record date (to be notified subsequently), in accordance with applicable laws, including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, SEBI Listing Regulations, along with relevant circulars issued by the Securities and Exchange Board of India, Companies Act, 2013 ("Right Issue"), subject to Shareholders & regulatory approval, if any. The rights issue will be either equity or any other convertible instruments.

The board also constituted Right Issue Committee to proceed with the Right Issue and, decide the other terms and conditions of the Right Issue, including deciding on the Record date, determining the rights issue price, rights entitlement ratio, appointment of intermediaries and other related matters.

Shares of WARDWIZARD INNOVATIONS AND MOBILITY LIMITED was last trading in BSE at Rs. 77.95 as compared to the previous close of Rs. 78.65. The total number of shares traded during the day was 429899 in over 4305 trades.

The stock hit an intraday high of Rs. 82.4 and intraday low of 76.15. The net turnover during the day was Rs. 34353613.

Source : Equity Bulls

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