Krishna Defence And Allied Industries Limited has informed the Exchange regarding Board meeting held on Jun 26, 2025.
KRISHNADEF · price
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Krishna Defence's board, at its meeting on June 26, 2025, approved the conversion of 5,41,000 warrants into equal number of equity shares of Rs. 10 face value. These warrants were originally allotted on a preferential basis on February 1, 2024, and the allottees have now paid the balance 75% consideration of Rs. 228 per share (Rs. 76 was paid upfront earlier, taking the effective price to Rs. 304 per share). Seven non-promoter allottees participated, including Shlok Savjani, Shaurya Jagesh Savjani, Bhagyoday Oil Industries, Vivekkumar Mahesh Jalan, Zyana Developers LLP, Arun Kumar Ganeriwala, and Jay Mukesh Shah. As a result, the company's paid-up equity capital has risen from Rs. 14.06 crore to Rs. 14.60 crore. An additional 3,19,000 warrants remain outstanding and are expected to be converted later.
This is a routine warrant-to-equity conversion that modestly dilutes existing shareholders by about 3.8% (5.41 lakh new shares on a base of ~1.41 crore shares). It is mildly positive as it brings in fresh capital (~Rs. 12.3 crore from the balance consideration) without new debt, but the impact on the stock price is likely to be limited since the shares were already anticipated from the 2024 allotment.