Enclosed herewith Regulation 30 for Joint Venture by Wardwizard Innovations & Mobility Limited.
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Wardwizard Innovations & Mobility has received board approval to set up a joint venture in Saudi Arabia with Royal Highness Abdulaziz Bin Turki Bin Talal Abdulaziz Al Saud. The JV will establish an Electric Vehicle (EV) assembly plant and an EV battery manufacturing facility in Saudi Arabia, targeting both domestic and international markets. The Saudi partner will hold 51% equity while Wardwizard will hold 49% in the new entity. The board meeting approving this took place on November 14, 2025. The parties are not related to Wardwizard's promoter group and the transaction is not a related party deal.
This is a positive strategic move that opens an international market for Wardwizard's EV business, though the company will be in a minority position (49%) in the JV. The development could boost long-term growth prospects and may positively influence investor sentiment.