Jignesh Thobhani Group Boosts Kavveri Defence Stake to 9.98% via Preferential Issue

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AuthorAarav Shah|Published at:
Jignesh Thobhani Group Boosts Kavveri Defence Stake to 9.98% via Preferential Issue
Overview

Jignesh Amrutlal Thobhani and associates have increased their stake in Kavveri Defence & Wireless Technologies Ltd. to 9.98% by acquiring an additional 6.65% through a preferential issue, significantly raising their influence.

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Kavveri Defence & Wireless Technologies Ltd: Stake Boosted

Jignesh Amrutlal Thobhani and associated persons have acquired 40,00,000 equity shares, representing 6.65% of Kavveri Defence & Wireless Technologies Ltd. This transaction brings their total holding in the company to 60,00,000 shares, now equating to 9.98% of the total voting capital.

What Happened

Jignesh Amrutlal Thobhani and his associated persons have completed the acquisition of 40,00,000 equity shares in Kavveri Defence & Wireless Technologies Ltd. through a preferential issue. This block of shares represents 6.65% of the company's total voting capital.

Significance of the Deal

This transaction significantly increases the collective holding of Jignesh Amrutlal Thobhani and associated persons. Their total stake in Kavveri Defence & Wireless Technologies Ltd. has risen to 9.98% of the total voting capital, marking a substantial rise in their influence within the company.

Background of the Share Capital

Before this acquisition, Kavveri Defence & Wireless Technologies Ltd. had an equity share capital of Rs. 34.37 crore, made up of 3,43,74,260 shares of Rs. 10 each. The recent acquisition was part of a preferential issue strategy.

Impact on Share Capital

Following the acquisition and the preferential issue, Kavveri Defence & Wireless Technologies Ltd.'s equity share capital has grown to Rs. 60.12 crore, representing 6,01,24,260 shares of Rs. 10 each. The aggregate holding of Jignesh Amrutlal Thobhani and associated persons now constitutes 9.98% of this expanded total voting capital.

Key Metrics

  • Acquisition Date: May 21, 2026
  • Shares Acquired: 40,00,000 (6.65% voting capital)
  • Total Holding Post-Acquisition: 60,00,000 shares (9.98% voting capital)
  • Equity Share Capital Before: Rs. 34.37 crore
  • Equity Share Capital After: Rs. 60.12 crore

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