Kavveri Defence & Wireless Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on March 06, 2026.
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Kavveri Defence & Wireless Technologies' board, at its meeting on March 6, 2026, approved the allotment of 72,50,000 equity shares arising from the conversion of an equal number of convertible warrants at Rs. 16 per share (face value Rs. 10 plus Rs. 6 premium). The company received Rs. 8.70 crore, representing the balance 75% of the issue price. Three allottees subscribed: C Mokshith Reddy (Promoter Group, 22.5 lakh shares) and two Non-Promoters — Sapna Chiranjeev Pardasani and Chiranjeev Pardasani (25 lakh shares each). SEBI had, on March 5, 2026, granted an exemption from Regulation 170 of the ICDR Regulations to regularise the original warrant allotments made in September 2024. As a result, the paid-up equity capital of the company has increased from Rs. 52.87 crore (5.28 crore shares) to Rs. 60.12 crore (6.01 crore shares).
This is a dilution event for existing shareholders — the share count rises by roughly 13.7% with new shares going to the promoter group and two non-promoter allottees, slightly increasing promoter family influence. The fresh capital (Rs. 8.7 crore) strengthens the company's equity base, but the small size and preferential nature mean limited strategic significance for the stock in the near term.