Wardwizard Innovations & Mobility Ltd board approves rights issue terms

The Board of Directors of Wardwizard Innovations & Mobility Ltd in its meeting held on January 18, 2022 has considered and approved the terms and conditions of rights issue.

a) Number of Rights Equity Shares to be issued and the size of the Issue: 59,62,373 Equity Shares for an amount aggregating upto Rs. 48,89,14,586 (assuming full subscription)

b) Rights Issue Price: INR 82/- per Rights Equity Share.

c) Rights entitlement ratio: (1:43) which mean for 1 (one) Rights Equity Share for every 43 (forty-three) held by eligible Equity Shareholders of the Company as on the record date.

d) Record Date: The record date for the purpose of determining the equity shareholders who are entitled Rights Entitlement in Rights Issue is January 22, 2022.

e) Issue opening Date: January 31, 2022
Issue Closing Date: February 14, 2022

The Board has also approved Letter of Offer with respect to the aforesaid rights equity shares.

The Board had earlier on September 20, 2021, approved fund raising by way of a rights issue of equity shares of the Company ("Rights Equity Shares") to eligible equity shareholders of the Company as on the record date.

Shares of Wardwizard Innovations & Mobility Ltd was last trading in BSE at Rs. 93.15 as compared to the previous close of Rs. 97.40. The total number of shares traded during the day was 5920370 in over 14219 trades.

The stock hit an intraday high of Rs. 100.85 and intraday low of 89.00. The net turnover during the day was Rs. 570913833.00.

Source : Equity Bulls

Keywords

WardwizardInnovationsandMobility INE945P01024 RightsIssue FundRaising