Kavveri Defence & Wireless Technologies Limited has informed the Exchange regarding Outcome of Board Meeting held on March 05, 2026.
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The Board of Kavveri Defence & Wireless Technologies, at its meeting on March 5, 2026, approved the allotment of 1.85 crore equity shares on conversion of warrants at Rs. 16 per share (face value Rs. 10 + premium Rs. 6). The shares were allotted to 16 allottees, including promoter Uma Reddy C (27.5 lakh shares) and several non-promoter investors, on a preferential basis. The company received Rs. 22.20 crore as the balance 75% consideration upon conversion. As a result, the paid-up equity capital increased from Rs. 34.37 crore (3.43 crore shares) to Rs. 52.87 crore (5.28 crore shares), an increase of about 54% in share count.
This is a significant equity dilution event — total shares outstanding jumped by roughly 54%, which may put short-term pressure on the stock price. The promoter group's stake has increased (Uma Reddy C moved from 5.09% to 8.51%), showing promoter confidence, and the company has strengthened its capital base by Rs. 22.20 crore. Existing shareholders should note the per-share value impact from the enlarged share base.