Wardwizard Innovations & Mobility to avail loan of ₹7 crore from Shriram Finance

Wardwizard Innovations & Mobility Limited has received board of directors approval to avail short-term working capital loan of ₹7 crore from Shriram Finance Ltd for financing the company’s funding requirements.

As per the company’s stock exchange filing, the security provided to the lender include a personal guarantee of a promoter of Wardwizard Innovations & Mobility Ltd – Yatin Sanjay Gupte, 10 per cent FLDG (Cash FLDG in the form of ICD), and a pledge of shares of promoter to the extent of 60 per cent of the sanctioned amount — ₹4.20 crore — at average market price of last month. 

The company’s stock closed at ₹56.82 on the BSE, down 0.66 per cent, on Thursday.

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