The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Power Infra Cons Pvt Ltd
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Power Infra Cons Pvt Ltd, a promoter group entity of Power and Instrumentation (Gujarat) Ltd (PIGL, Scrip Code 543912), has disclosed the conversion of 1,50,000 convertible warrants into equity shares on a preferential basis, following a board meeting on November 6, 2025. Each warrant was convertible into one equity share of Rs.10 face value at an issue price of Rs.83.75 per warrant. As a result, the entity's voting shareholding increased from 13,60,000 shares (7.65%) to 15,10,000 shares (8.38%) of the company. Total promoter group holding (including remaining 1,40,000 warrants) stands at 9.16% of the equity capital. The company's equity share capital expanded from Rs.17.77 crore to Rs.18.02 crore, with fully diluted capital reaching Rs.21.17 crore upon full warrant conversion.
This is a promoter group entity increasing its stake via warrant conversion, which is a positive signal showing promoter confidence and commitment to the company. The conversion is at a pre-set preferential price of Rs.83.75 and does not introduce any new shares from the market, so existing shareholders face mild dilution only from the warrant conversion itself.