EV-Penny Stock Below Rs 20: Company is conducting a Rights Issue to raise capital specifically for a major export deal to the Philippines
DSIJ Intelligence-1 / 25 Sep 2025/ Categories: Penny Stocks, Trending
The stock is up by 43 per cent from its 52-week low of Rs 9.76 per share.
Wardwizard Innovations & Mobility Ltd is conducting a Rights Issue to raise capital specifically for a major export deal to the Philippines. The company has a USD 1.29 billion Electric Vehicle agreement and is using the funds to execute the first phase of this order. This initial delivery, valued at approximately USD 30.6 million, includes 4,500 units of electric two-wheelers, three-wheelers, and four-wheelers. Wardwizard had previously sent prototype vehicles for testing and has now received official delivery timelines. The company aims to complete these deliveries by June 2026.
The capital raised through the Rights Issue is crucial for ensuring the company meets its contractual obligations and delivery deadlines. By dedicating the proceeds to this specific purchase order, Wardwizard Innovations & Mobility can maintain its high-quality standards and guarantee the on-time execution of the export deal. This strategic move highlights the company's commitment to fulfilling its international agreements and expanding its market presence in the electric vehicle sector.
About the Company
Wardwizard Innovations & Mobility Limited is one of India’s leading auto manufacturing companies in the Electric Vehicle (EV) segment under the brand name Joy e-bike and Joy e-rik. Being the first listed entity on BSE in Electric Vehicle manufacturing, it is mainly focused on the growth potential in the Indian EV segment to have a positive impact in the future. Given the current state of the environment, where fuel-powered vehicles account for the vast bulk of carbon emissions, the company is promoting improvement by offering cleaner, greener options that produce no emissions. With more than 10 models in its portfolio in both high and low-speed categories, the Company has established a strong presence in more than 400+ cities across India and aspires to boost this number throughout the country.
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The company has a market cap of Rs 400 crore. The stock’s 52-week high of Rs 49.19 per share and its 52-week low is Rs 9.76 per share. The stock is up by 43 per cent from its 52-week low of Rs 9.76 per share.
Disclaimer: The article is for informational purposes only and not investment advice.