Wardwizard Innovations Rights Issue Meets 90% Threshold After Technical Glitch Resolution

Wardwizard Innovations & Mobility Limited has successfully navigated a technical hurdle to meet the minimum subscription threshold for its rights issue, as revealed in a recent company announcement.

Rights Issue Subscription Details

The Rights Issue Committee of Wardwizard Innovations & Mobility Limited convened on October 28, 2025, to finalize the subscription figures for their rights issue, which had closed on October 24, 2025. Initially, the preliminary subscription stood at 74.88%, falling short of the required 90% minimum threshold under SEBI ICDR Regulations, 2018.

Technical Glitch and Resolution

A significant development emerged during the committee meeting:

Mr. Hitendrakumar Babaldas Shah's application faced a technical issue at the bank level.
Despite available funds, Shah's application couldn't be assigned a BID number.
The committee unanimously approved the inclusion of Shah's subscription in the final tally.
This decision was made after receiving confirmation from the bank.

Impact on Subscription Figures

The inclusion of Mr. Shah's subscription had a substantial impact:

Metric	Before Resolution	After Resolution
Subscription Percentage	74.88%	>90%
SEBI Threshold Met	No	Yes

Committee's Decision

Based on the adjusted figures, the Rights Issue Committee resolved to proceed with the allotment of equity shares. This decision was made possible as the adjusted subscription now meets the 90% minimum threshold required under SEBI ICDR Regulations, 2018.

Meeting Details

The Rights Issue Committee meeting details are as follows:

Aspect	Information
Date	October 28, 2025
Commencement Time	17:30 IST
Conclusion Time	18:00 IST

This development underscores the importance of prompt resolution of technical issues in corporate actions, ensuring compliance with regulatory requirements and safeguarding investor interests. The company's swift action in addressing the glitch demonstrates its commitment to a fair and transparent rights issue process.

Investors and market participants are advised to monitor official company communications for any further updates regarding the rights issue allotment process.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.35%	-2.58%	-4.34%	-41.29%	-71.76%	-72.23%

Wardwizard Innovations & Mobility Limited , a company listed on the BSE, has reported a corporate action involving its promoter, Yatin Sanjay Gupte. On October 16, 2025, Gupte pledged 10 lakh equity shares to Comfort Fincap Limited, as part of a financing agreement.

Key Details of the Transaction

Aspect	Details
Promoter Name	Yatin Sanjay Gupte
Shares Pledged	10,00,000 (Ten Lakh)
Pledge Date	October 16, 2025
Pledgee	Comfort Fincap Limited
Purpose	To secure financial assistance

Impact on Shareholding

The pledge transaction has resulted in changes to Gupte's shareholding structure:

Category	Before Pledge	After Pledge
Total Shareholding	4,85,66,153 (18.63%)	4,85,66,153 (18.63%)
Encumbered Shares	4,18,21,729 (16.04%)	4,28,21,729 (16.43%)

Company Overview

Wardwizard Innovations & Mobility Limited's equity share capital stands at Rs. 26.07 crore, divided into 26.07 crore equity shares of Re. 1 each. The company's shares are listed on BSE Limited.

Regulatory Compliance

The company has made the necessary disclosures in compliance with Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This transparency ensures that shareholders and potential investors are informed about significant changes in the promoter's shareholding pattern.

The pledge creation has increased the promoter's encumbered shares without affecting the overall shareholding percentage. This move may be related to the company's or promoter's financial strategies.