The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Padmavir Hospitality LLP
PIGL · price
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Padmavir Hospitality LLP, part of the promoter group of Power and Instrumentation (Gujarat) Ltd (PIGL), has acquired 6,12,000 equity shares through conversion of warrants allotted on a preferential basis. The warrants were converted at an issue price of Rs. 83.75 per share, following a Board approval on February 12, 2026. Post conversion, the promoter entity's voting shareholding rose from 4.21% to 7.25% of the paid-up capital (3.72% to 6.61% on a diluted basis). Total share capital of the company increased to Rs. 19.31 crore (1,93,12,900 equity shares) from Rs. 18.70 crore. Of the original 9,12,000 warrants, 6,12,000 have been converted, leaving 3,00,000 warrants pending conversion within 18 months.
This is a positive signal indicating promoter group confidence in the company, as the promoter entity is increasing its equity stake rather than diluting it. The conversion strengthens promoter skin-in-the-game and may be viewed positively by retail investors, though it also marginally increases the share count.