Disclosure under regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Allotment of Equity Shares upon conversion of warrants under Preferential Issue
PIGL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Power & Instrumentation (Gujarat) Limited has allotted 1,73,530 equity shares after converting an equal number of warrants held by a non-promoter, Manisha Vipulkumar Pathak. The conversion price is Rs. 83.75 per share, which includes a premium of Rs. 73.75 over the Rs. 10 face value. As a result, the company's paid-up equity capital has risen from Rs. 19.31 crore (1.93 crore shares) to Rs. 19.49 crore (1.95 crore shares). After this allotment, the allottee will hold 0.89% stake in the company. Of the 50.96 lakh warrants originally issued, 32.40 lakh were already converted earlier, and this is the latest tranche, with 26,470 warrants still pending conversion.
This is a routine warrant-to-equity conversion that slightly dilutes existing shareholders (less than 1% impact for the sole allottee). The cash inflow of roughly Rs. 1.45 crore strengthens the company's equity base, but the move is minor and unlikely to move the stock price meaningfully.