Krishna Defence And Allied Industries Limited has informed the Exchange regarding 'Conversion of Warrants and Allotment of Equity Shares'.
KRISHNADEF · price
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Krishna Defence has converted 3,19,000 warrants into an equal number of equity shares (face value Rs. 10 each), originally issued on a preferential basis on 1 February 2024. The warrant holders paid Rs. 76 upfront earlier and have now paid the remaining Rs. 228 per share, taking the total price to Rs. 304 per share. Three allottees are involved: promoter and MD Ankur Ashwin Shah (2,00,000 shares), Vivekkumar Mahesh Jalan (46,000 shares pending listing), and Arun Kumar Ganeriwala (85,000 shares pending listing). As a result, the company's paid-up equity capital has risen from Rs. 14.60 crore to Rs. 14.92 crore, and the total share count has gone from 1.46 crore to 1.49 crore.
This is a routine completion of a previously announced preferential warrant issue, so it brings in additional capital (around Rs. 7.27 crore) but also dilutes existing shareholders slightly. Promoter Ankur Shah's stake will dip marginally from 37.37% to 36.56% post-conversion despite receiving fresh shares. Some of the new shares are still awaiting listing approval, which could add short-term supply once trading begins.