Vadodara(Gujarat) [India], March 25 (ANI/BusinessWire India): Wardwizard Innovations & Mobility Limited. (BSE Code: 538970), the first-ever company listed on BSE under the electric vehicle category aims to achieve 25 per cent of the overall EV vehicle market in India. With a market capitalization of more than INR 1800 crores, Wardwizard envisions the dawn of a new era for the Indian economy.
The company has set up its state-of-the-art OEM plant with a production capacity of 9000 vehicles per month in Vadodara and has 4 new high-speed bikes in its range. Wardwizard had recently announced the company stock split in the ratio 1:10 and the resolution has been approved by shareholders in the general board meeting.
Yatin Gupte, Chairman and Managing Director, Wardwizard Group said, “We have consistently delivered growth over the last twelve months. This stock split reflects our continued confidence in our long-term growth, and we believe it will broaden the market for and widen the distribution of the Company’s stock. The company has strong fundamentals and the small investors trying to stay diversified will stand to gain. We are bullish about the EV market in India as the potential is huge. The market is vast and we are totally geared for it.”
Under the Make In India initiative, the company has launched their own first-ever OEM plant in, Gujarat, which was inaugurated by Honourable Home Minister Amit Shah, getting the nation a step closer to Atmanirbhar Bharat. Through this plant, Wardwizard is committed to empowering more than 2500 entrepreneurs in 2021-2022 and many budding electric vehicle brands to get the units manufactured and assembled locally lowering the major costs involved.