Power & Instrumentation (Gujarat) Limited has informed regarding Disclosure of material issue
PIGL · price
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The board of Power & Instrumentation (Gujarat) Limited approved the allotment of 3,00,000 equity shares on March 19, 2026, through the conversion of equal number of warrants held by promoter group entity M/S Padmavir Hospitality LLP. The shares were allotted at Rs. 83.75 per share, which includes a premium of Rs. 73.75 over the face value of Rs. 10. Following this allotment, the allottee's stake in the company rose from 6.71% (14,00,000 shares) to 8.03% (17,00,000 shares). The company's paid-up equity capital increased from Rs. 20.87 crore to Rs. 21.17 crore, with total shares rising to 2,11,68,900. This completes the full conversion of warrants previously issued to Padmavir Hospitality LLP.
This is a routine warrant conversion by the promoter group, resulting in a minor dilution of about 1.44% for existing shareholders. The promoter group's increased stake signals continued confidence in the company, though it also means slight equity dilution for non-promoter shareholders.