Attached herewith Press Release dated 25.09.2025
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Wardwizard Innovations & Mobility has announced a Rights Issue, with proceeds earmarked to execute the first lot of dispatch under its USD 1.29 billion Electric Vehicle agreement with the Philippines. The initial order covers 4,500 units including electric two-wheelers, three-wheelers, and four-wheelers, valued at approximately USD 30.6 million, with deliveries to be completed by June 2026. The company dispatched prototype vehicles for testing last year and has now received delivery timelines for the first purchase order. Management described the Rights Issue as a pivotal step toward executing the initial dispatch and building a strong capital base for long-term growth.
The Rights Issue signals fresh equity dilution for existing shareholders but provides capital to execute a large international order, which could support future revenue growth. The stock may see short-term pressure from dilution concerns, while long-term impact depends on successful order execution and additional funding plans.