The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Padmavir Hospitality LLP
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Padmavir Hospitality LLP, part of the promoter group, has converted 5,38,000 convertible warrants into equity shares of Power and Instrumentation (Gujarat) Ltd via a preferential allotment dated February 2, 2026. The warrants were originally issued at Rs. 83.75 per warrant, convertible into 1 equity share of Rs. 10 face value each within 18 months. Post-conversion, the entity's equity holding rose from 2,50,000 shares (1.34%) to 7,88,000 shares (4.21%) of the company, while its remaining convertible warrants stood at 9,12,000 (4.88%). Total combined holding (shares + warrants) remains at 9.09% of the share capital. The company's total equity share capital increased from Rs. 18.02 crore to Rs. 18.70 crore as a result of this allotment.
This is a promoter-group stake increase through warrant conversion, signalling continued promoter confidence and commitment of capital in the company. The dilution from warrant conversion is modest and already priced in, so limited short-term impact on share price is expected. Shareholders should note the promoter group's combined exposure of 9.09% and any future conversions.