Outcome of Board Meeting
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 1.2 pts more than Nifty Microcap 250 and 0.1 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Board of Directors of Power & Instrumentation (Gujarat) Limited approved the allotment of 3,54,339 equity shares at a price of Rs. 83.75 per share (Rs. 10 face value + Rs. 73.75 premium) on March 16, 2026. These shares were issued upon conversion of an equivalent number of convertible warrants on a preferential basis to Promoter and Non-Promoter categories. The warrants were originally part of a larger tranche of 50,96,000 convertible warrants issued on September 21, 2024. Following this allotment, the company's paid-up equity capital increased from Rs. 19.97 crore (1,99,71,030 shares) to Rs. 20.33 crore (2,03,25,369 shares).
This is a warrant-to-equity conversion that increases the share count by about 1.8%, leading to mild dilution for existing shareholders. The conversion at a premium of Rs. 73.75 reflects confidence from promoters and select investors in the company's prospects.