Power & Instrumentation (Gujarat) Limited has informed regarding Disclosure of material issue
PIGL · price
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On the reaction day the stock moved 2.6 pts more than Nifty Microcap 250 and 2.1 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.
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Power & Instrumentation (Gujarat) Limited has allotted 6,12,000 equity shares upon conversion of equal number of convertible warrants to its promoter group entity, M/S Padmavir Hospitality LLP, at a price of Rs. 83.75 per share (including a premium of Rs. 73.75). With this allotment, Padmavir Hospitality LLP's stake in the company rises from 4.21% (7,88,000 shares) to 7.25% (14,00,000 shares). The company's paid-up equity capital has increased from Rs. 18.70 crore to Rs. 19.31 crore, taking the total share count from 1,87,00,900 to 1,93,12,900 equity shares. So far, 26,28,000 warrants had already been converted before this tranche, and 11,00,000 warrants from the original 50,96,000 issued remain pending conversion. The allotment was approved at the Board meeting held on February 12, 2026.
This is a promoter-group warrant conversion that increases promoter shareholding and dilutes existing public shareholders marginally. It signals continued promoter confidence and capital infusion, though it is not fresh capital from the market since the warrants were previously issued on a preferential basis.