Power & Instrumentation (Gujarat) Limited has informed the Exchange regarding Outcome of Board Meeting held on March 03, 2026.
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The Board of Directors, at its meeting on March 3, 2026, approved the allotment of 1,73,530 equity shares of Rs. 10 each at a premium of Rs. 73.75 per share, arising from the conversion of an equal number of convertible warrants on a preferential basis to a non-promoter. This conversion is part of a larger tranche of 50,96,000 warrants originally issued and allotted on September 21, 2024. As a result, the company's paid-up equity capital has risen from Rs. 19.31 crore (1,93,12,900 shares) to Rs. 19.49 crore (1,94,86,430 shares).
This is a small, expected conversion of warrants that were already in the system, resulting in only marginal equity dilution (about 0.9% increase in share count). Shareholders are unlikely to see a meaningful price impact, and the company gains a modest inflow of capital at Rs. 83.75 per share.