Kavveri Defence Allots 1.85 Cr Equity Shares on Warrant Conversion, Raises ₹22.20 Crore
Kavveri Defence & Wireless Technologies Limited approved the allotment of 1.85 crore equity shares upon conversion of warrants. The company raised ₹22.20 crore at an issue price of ₹16 per share. This issuance resulted in an increase of the paid-up equity share capital.
The capital raised will strengthen the company's financial position and support its future growth initiatives. The increase in share capital is a significant event.
The company has successfully raised capital through the conversion of warrants, which increases its equity base and indicates investor confidence.
Kavveri Defence & Wireless Technologies Limited has approved the allotment of 1,85,00,000 equity shares following the conversion of warrants. The conversion was executed at an issue price of ₹16 per share, including a premium of ₹6 per share. The company received a total of ₹22,20,00,000, representing 75% of the issue price per warrant, from the allottees for the conversion.
The board meeting, held on March 5, 2026, considered and approved this preferential allotment to both promoter and non-promoter categories. The allotment increases the company's paid-up equity share capital from ₹34,37,42,600 (3,43,74,260 equity shares of ₹10 each) to ₹52,87,42,600 (5,28,74,260 equity shares of ₹10 each).
Key allottees include Uma Reddy C (Promoter), Chennareddy Rohit Reddy (Promoter Group), and Ruma Reddy Chenna Reddy (Promoter Group), along with several non-promoter investors. The meeting commenced at 11:00 AM and concluded at 12:00 PM.
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Kavveri Defence & Wireless Technologies Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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