News Corporate Actions Kavveri Defence Completes Rs 8.70 Crore Equity Share Allotment Through Warrant ConversionKavveri Defence Completes Rs 8.70 Crore Equity Share Allotment Through Warrant Conversion
Kavveri Defence & Wireless Technologies successfully allotted 72,50,000 equity shares at Rs 16 per share through warrant conversion, raising Rs 8,70,00,000 from three investors. The Board approved the allotment on March 06, 2026, following SEBI exemption from regulatory compliance requirements, increasing the company's paid-up capital from Rs 52.87 crore to Rs 60.12 crore.
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Kavveri Defence & Wireless Technologies Limited has successfully completed the allotment of 72,50,000 equity shares through warrant conversion, raising Rs 8,70,00,000 from three investors. The Board of Directors approved this allotment on March 06, 2026, following receipt of SEBI exemption from regulatory compliance requirements.
Board Meeting Outcome
The Board meeting held on March 06, 2026, commenced at 03:00 PM and concluded at 3:30 PM. The directors considered and approved the allotment of equity shares pursuant to conversion of warrants at an issue price of Rs 16 per share, including a premium of Rs 6 each. The allotment was made on a preferential basis to both promoter and non-promoter categories upon receipt of 75% of the issue price per warrant.
| Parameter: | Details |
|---|---|
| Total Warrants Converted: | 72,50,000 |
| Issue Price per Share: | Rs 16 (including Rs 6 premium) |
| Face Value: | Re. 10 each |
| Total Amount Raised: | Rs 8,70,00,000 |
| Payment Received: | 75% of issue price |
Allottee Details
The warrant conversion involved three investors across promoter and non-promoter categories:
| Allottee Name: | Category | Warrants Held | Shares Allotted | Amount Received (Rs) |
|---|---|---|---|---|
| C Mokshith Reddy: | Promoter Group | 22,50,000 | 22,50,000 | 2,70,00,000.00 |
| Sapna Chiranjeev Pardasani: | Non-Promoter | 25,00,000 | 25,00,000 | 3,00,00,000.00 |
| Chiranjeev Pardasani: | Non-Promoter | 25,00,000 | 25,00,000 | 3,00,00,000.00 |
| Total: | 72,50,000 | 72,50,000 | 8,70,00,000.00 |
Impact on Share Capital
Following the allotment, the company's paid-up equity share capital has increased significantly:
| Parameter: | Before Allotment | After Allotment |
|---|---|---|
| Paid-up Capital: | Rs 52,87,42,600 | Rs 60,12,42,600 |
| Number of Shares: | 5,28,74,260 | 6,01,24,260 |
| Face Value per Share: | Re. 10 | Re. 10 |
Post-Allotment Shareholding Pattern
The allotment has resulted in changes to the shareholding pattern of the three allottees:
| Investor Name: | Category | Pre-Issue Shares | Pre-Issue % | Post-Issue Shares | Post-Issue % |
|---|---|---|---|---|---|
| C Mokshith Reddy: | Promoter Group | 0 | 0 | 22,50,000 | 3.74 |
| Sapna Chiranjeev Pardasani: | Non-Promoter | 0 | 0 | 25,00,000 | 4.16 |
| Chiranjeev Pardasani: | Non-Promoter | 1,60,663 | 0.467 | 26,60,663 | 4.43 |
| Total: | 1,60,663 | 0.467 | 74,10,663 | 12.33 |
Regulatory Compliance
The allotment was completed after receiving SEBI exemption dated March 05, 2026, from Regulation 170 of SEBI (ICDR) Regulations, 2018. SEBI granted the exemption citing reasonable ambiguity regarding whether the "15 days" stipulated under Regulation 170 refers to calendar days or working days. The original warrants were allotted on September 16, 2024 and September 17, 2024, with the conversion completed within the 18-month exercise period as per regulatory requirements.
Historical Stock Returns for Kavveri Defence & Wireless Technologies
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.99% | +1.57% | +1.49% | -20.95% | +41.97% | +3,592.00% |
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