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 Private Limited, a member of the promoter group, converted 1,40,000 fully convertible warrants into equity shares of Power and Instrumentation (Gujarat) Ltd on a preferential basis. As a result, the promoter entity's voting shareholding in the company increased from 8.07% (15,10,000 shares) to 8.82% (16,50,000 shares) of the total share capital. The warrants were issued earlier at Rs. 83.75 per share with a face value of Rs. 10, convertible within 18 months. The total equity share capital of the company rose from 1,80,22,900 to 1,87,00,900 shares, and on a fully diluted basis (assuming all warrants convert) the capital will be 2,11,68,900 shares. No encumbrance, pledge, or off-market trade is involved — this is a routine warrant-to-equity conversion by the promoter group.
This is a positive but non-dilutive-in-spirit signal: the promoter group is increasing its stake by converting existing warrants, showing continued promoter confidence. There is no new cash outflow from the company and no new shares from the market perspective, so the impact on retail shareholders is neutral to mildly positive given the promoter group's expanding holding.