Kavveri Defence allots 72.5 lakh equity shares upon warrant conversion, raising ₹8.7 Crore
Kavveri Defence & Wireless Technologies approved the allotment of 72.5 lakh equity shares upon conversion of warrants at ₹16 each. This raised ₹8.7 Crore for the company. The paid-up equity capital increased to ₹60.12 Crore.
The capital infusion of ₹8.70 Crore will strengthen the company's financial position and support its growth initiatives, though it represents a moderate increase in the overall capital structure.
The company successfully raised capital through the conversion of warrants into equity shares, which is a positive development for its financial standing and operational capacity.
Kavveri Defence & Wireless Technologies Limited has announced the outcome of its Board Meeting held on March 06, 2026. The Board approved the allotment of 72,50,000 equity shares upon the conversion of an equal number of warrants. The issue price for these shares was fixed at ₹16 per share, including a premium of ₹6 per share.
This conversion resulted in the company receiving an aggregate amount of ₹8.70 Crore (₹87,000,000), representing 75% of the issue price per warrant. The warrants were exercised by persons belonging to the Promoter and Non-Promoter categories, in accordance with SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2018.
The allotment has led to an increase in the company's paid-up equity share capital from ₹52.87 Crore (5,28,74,260 equity shares of face value ₹10 each) to ₹60.12 Crore (6,01,24,260 equity shares of face value ₹10 each).
The meeting commenced at 3:00 PM and concluded at 3:30 PM. The company also noted a SEBI exemption letter dated March 05, 2026, granting an exemption from Regulation 170 of SEBI (ICDR) Regulations, 2018, concerning the allotment of convertible warrants on a preferential basis.
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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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