Allotment of 2.5 lakh shares on warrant conversion at Rs 83.75
PIGL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.4 pts more than Nifty Microcap 250 and 5.2 pts more than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
PIGL board allotted 2,50,000 equity shares on conversion of warrants at Rs 83.75 per share (including Rs 73.75 premium) on a preferential basis to 1 promoter group entity and 3 non-promoters. Promoter Power Infra-Cons got 1,50,000 shares, raising its holding to 8.38%. Non-promoters Hardik Shah, Noida Holdings and Rajiv Mehta got 60,000, 20,000 and 20,000 shares respectively. Post-issue total holding of these allottees is 16,30,000 shares (9.04%). Of 50,96,000 warrants originally allotted, 1,40,000 are still pending conversion.
Minor dilution from this tranche. Promoter holding rises to 8.38%, signalling promoter confidence. 1.4 lakh warrants still pending conversion.