Kavveri Defence & Wireless Technologies Limited has informed the Exchange about Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Intimation of In-principle Approval received for Listing of 1,85,00,000 equity share and 72,50,000 equity shares of Rs. 10/- each pursuant to conversion of warrants issued on preferential basis.
KAVDEFENCE · price
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Kavveri Defence & Wireless Technologies Limited has received in-principle approval from NSE for listing of 25,750,000 equity shares (18.5 million + 7.25 million) of Rs. 10 face value each. The shares were issued at Rs. 16 per share (including Rs. 6 premium) pursuant to conversion of warrants on preferential basis, to both promoters and non-promoters. The approvals were granted on May 15, 2026, and the shares will be admitted to dealings upon confirmation from depositories (NSDL/CDSL). This represents a significant capital restructuring event through warrant conversion.
The conversion of warrants into equity will lead to share capital dilution. Existing shareholders face increased competition for voting rights and earnings per share. The Rs. 16 issue price (60% above face value) suggests investor confidence, but the large number of new shares may impact stock price near-term.