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An update from Power & Instrumentation (Gujarat) Ltd. ( (IN:PIGL) ) is now available.
Power & Instrumentation (Gujarat) Ltd. has increased its paid-up equity share capital through the conversion of 300,000 warrants into fully paid equity shares allotted to promoter group entity Padmavir Hospitality LLP on a preferential basis at Rs 83.75 per share, including premium. Following this allotment, the company’s equity capital rose from Rs 20.87 crore to Rs 21.17 crore, completing the conversion of all 17 lakh warrants issued to this promoter group entity and modestly enhancing promoter equity participation and overall capital base.
The transaction forms part of a broader preferential issue in which 50.96 lakh warrants had been allotted to promoter and non-promoter investors, of which 47.96 lakh were already converted prior to this step. By finalising this tranche of warrant conversion under SEBI’s preferential issue framework, the company strengthens its balance sheet and reinforces promoter commitment, which may be viewed positively by shareholders tracking its capital structure and governance.
More about Power & Instrumentation (Gujarat) Ltd.
Power & Instrumentation (Gujarat) Ltd. operates in the power and electrical infrastructure segment, focusing on engineering, procurement and construction services and related electrical works. The company’s securities are listed on the National Stock Exchange of India and BSE, giving it access to public capital markets and a diversified investor base.
Average Trading Volume: 57,599
Technical Sentiment Signal: Sell
Current Market Cap: 1.8B INR
See more data about PIGL stock on TipRanks’ Stock Analysis page.