Kavveri Defence & Wireless Technologies Limited has informed the Exchange about General Updates
KAVDEFENCE · price
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Kavveri Defence's board approved the allotment of 72,50,000 equity shares on conversion of warrants at Rs. 16 per share (face value Rs. 10, premium Rs. 6). The company received Rs. 8.70 crore as the balance 75% consideration, bringing in three allottees — promoter group member C Mokshith Reddy (22.5 lakh shares) and non-promoters Sapna Chiranjeev Pardasani and Chiranjeev Pardasani (25 lakh shares each). SEBI on March 5, 2026 exempted the company from Regulation 170 of ICDR rules, resolving a procedural delay from the original September 2024 warrant allotments. As a result, the company's paid-up equity capital has increased from Rs. 52.87 crore (5.28 crore shares) to Rs. 60.12 crore (6.01 crore shares).
The conversion increases the share count by about 13.7%, causing mild dilution for existing shareholders, but also brings in Rs. 8.70 crore of fresh capital and strengthens promoter and promoter-group influence in the company. Existing investors should note the expanded share base when assessing per-share metrics.