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Power & Instrumentation (Gujarat) Ltd. ( (IN:PIGL) ) has issued an announcement.
Power & Instrumentation (Gujarat) Ltd. has approved the conversion of 300,000 previously issued convertible warrants into an equal number of equity shares at a premium, allotted on a preferential basis to both promoter and non-promoter investors. Following this move, the company’s paid-up equity capital has risen from Rs. 20.87 crore to Rs. 21.17 crore, marginally diluting existing holdings while strengthening the balance sheet and signaling continued capital-raising under its broader warrant conversion program.
The latest allotment forms part of a larger issue of 5,096,000 convertible warrants previously approved by the company, indicating an ongoing process to infuse equity capital over time. This structured capital conversion enhances the company’s financial flexibility and may support future operational or expansion plans, while aligning with SEBI’s regulatory framework for preferential issues and disclosures.
More about Power & Instrumentation (Gujarat) Ltd.
Power & Instrumentation (Gujarat) Ltd. operates in the electrical and instrumentation engineering space, focusing on power-related infrastructure and associated services. The company is listed on both the National Stock Exchange of India and BSE, giving it access to capital markets to support its growth and project pipeline.
Average Trading Volume: 57,599
Technical Sentiment Signal: Sell
Current Market Cap: 1.8B INR
Find detailed analytics on PIGL stock on TipRanks’ Stock Analysis page.