India, often termed the two-wheeler capital of the world, offers immense growth potential in the electric vehicle (EV) mobility sector, especially for two-wheelers. With rising fuel costs, government incentives, and increasing environmental awareness, the transition to electric two-wheelers is gaining momentum. Affordable pricing, low maintenance costs, and advancements in battery technology make EV two-wheelers attractive for India’s price-sensitive market.
Furthermore, urbanization and last-mile delivery services drive demand for efficient, sustainable transportation solutions. Indian manufacturers are leveraging indigenous resources and scaling up production to meet the growing demand. As a result, India’s two-wheeler EV segment is poised to play a pivotal role in achieving the nation’s sustainability goals and reducing carbon emissions, creating substantial opportunities for businesses and investors.
Share Price
The shares of Wardwizard Innovations & Mobility Ltd are currently trading at Rs. 39.6 down by 3.41% from its previous close of Rs. 41 as of December 19, 2024.
Recent Update
Stake Sale Details by Promoter
Garuda Mart India Private Limited, a promoter entity of Wardwizard Innovations & Mobility Limited, sold 22,00,000 equity shares through an open market transaction on December 16 and 17, 2024. This stake represents 0.84% of the company’s total share capital, reducing the promoter’s shareholding from 9.42% (2,45,50,000 shares) to 8.57% (2,23,50,000 shares).
Impact on Promoter Shareholding
Following the sale, the promoter’s total voting rights decreased proportionately, marking a reduction in its influence over the company. The equity share capital before and after the sale remains unchanged at ₹26,06,93,900, divided into 26,06,93,900 equity shares of ₹1 each.
Considerations
The open market sale could be part of a larger restructuring or monetization strategy by the promoter. While the reduction in shareholding slightly dilutes promoter control, it may attract new investors, enhancing the stock’s market liquidity and potentially boosting shareholder value.
About the company
Wardwizard Innovations & Mobility Limited, established in 2016 by Yatin Gupte, is a pioneering Indian electric vehicle (EV) manufacturer headquartered in Vadodara, Gujarat. As the first EV manufacturer listed on the Bombay Stock Exchange, the company is committed to providing eco-friendly transportation solutions through its flagship brand, Joy E-Bikes.
Their product lineup includes models such as Gen-next, Glob, Wolf, and Monster, catering to diverse consumer needs. In 2021, Wardwizard inaugurated a state-of-the-art manufacturing facility in Vadodara, enhancing its production capabilities.
The company has also expanded its operations internationally, serving markets in India, Uganda, and Nepal. Demonstrating its commitment to innovation, Wardwizard established its first Global R&D headquarters in Singapore in September 2022.
Written By: Dipangshu Kundu
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