Power & Instrumentation Allots 3.54 Lakh Equity Shares Through Warrant Conversion

Power & Instrumentation (Gujarat) Limited has completed the allotment of 3,54,339 equity shares through warrant conversion following a Board meeting held on March 16, 2026. This development represents a significant capital structure enhancement, with the company successfully converting warrants from both promoter and non-promoter entities at a premium price.

Board Meeting Outcome and Allotment Details

The Board of Directors approved the allotment of 3,54,339 equity shares at Rs. 10.00 face value with a premium of Rs. 73.75 per share during their meeting on March 16, 2026. The meeting was conducted at the company's registered office from 4:15 PM to 4:45 PM, with the allotment made on a preferential basis.

Parameter: Details Shares Allotted: 3,54,339 Face Value: Rs. 10.00 Premium: Rs. 73.75 Total Issue Price: Rs. 83.75 Allotment Method: Preferential Basis Meeting Duration: 4:15 PM to 4:45 PM

Allottee Breakdown and Warrant Conversion Status

The warrant conversion involved two key entities, with Padmaraj P Pillai HUF receiving the majority allocation. The conversion represents part of the company's broader warrant exercise program initiated with the original issuance of 50,96,000 warrants.

Allottee: Shares Allotted Post-Conversion Holding Shareholding % Padmaraj P Pillai HUF: 3,00,000 5,85,000 2.88% Pulakeshin Private Limited: 54,339 1,33,939 0.66% Total: 3,54,339 7,18,939 3.54%

Impact on Share Capital Structure

The warrant conversion has resulted in a significant increase in the company's paid-up equity capital, demonstrating successful execution of the capital raising strategy and strengthening the financial foundation.

Capital Component: Before Allotment After Allotment Change Paid-up Capital: Rs. 19,97,10,300 Rs. 20,32,53,690 +Rs. 35,43,390 Number of Shares: 1,99,71,030 2,03,25,369 +3,54,339 Face Value per Share: Rs. 10.00 Rs. 10.00 -

Outstanding Warrant Position

Following this conversion, the company maintains a substantial warrant balance available for future conversion. The original warrant issuance totaled 10,00,000 warrants to promoter and non-promoter entities.

Warrant Status: Details Total Warrants Issued: 10,00,000 Previously Converted: 3,64,600 Current Conversion: 3,54,339 Remaining for Conversion: 2,81,061 Padmaraj P Pillai HUF Remaining: 2,15,000 Pulakeshin Private Limited Remaining: 66,061

Regulatory Compliance

The allotment was conducted in accordance with SEBI (Issue of Capital & Disclosures Requirement) Regulation, 2018, and disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The conversion reflects positive investor confidence and provides additional capital for business operations and growth initiatives.

Power & Instrumentation (Gujarat) Limited announced the successful allotment of equity shares through warrant conversion following a board meeting held on March 10, 2026. The board meeting, which commenced at 10:50 A.M. and concluded at 11:20 A.M. at the company's registered office in Ahmedabad, Gujarat, approved significant capital structure changes.

Latest Warrant Conversion Details

The board approved the allotment of 4,84,600 equity shares of Rs. 10.00 each at a premium of Rs. 73.75 per equity share. This latest allotment resulted from the conversion of an equal number of convertible warrants that were originally part of a larger issuance.

Parameter: Details Shares Allotted: 4,84,600 equity shares Face Value: Rs. 10.00 per share Premium: Rs. 73.75 per share Total Price: Rs. 83.75 per share Allotment Basis: Preferential to Promoter and Non-promoter

Allottee Distribution and Shareholding

The warrant conversion was distributed among three entities, including both promoter and non-promoter categories. The allotment details show the post-conversion shareholding pattern for each allottee.

Allottee: Shares Allotted Post-Allotment Shareholding (%) Padmaraj P Pillai HUF (Promoter): 2,85,000 1.43% Pulakeshin Private Limited: 79,600 0.40% Ghisulal Kisan Kumar: 1,20,000 0.60% Total: 4,84,600 2.43%

Previous Warrant Conversion Activity

This follows an earlier warrant conversion that took place on March 03, 2026, where the company had allotted 1,73,530 equity shares through warrant conversion to non-promoter Manisha Vipulkumar Pathak. That conversion was executed at the same pricing of Rs. 83.75 per share.

Previous Allotment: Details Shares Allotted: 1,73,530 equity shares Allottee: Manisha Vipulkumar Pathak (Non-Promoter) Post-Allotment Shareholding: 0.89% Meeting Date: March 03, 2026

Original Warrant Framework and Remaining Conversions

Both conversions are part of a substantial issuance of 50,96,000 convertible warrants that were issued and allotted on September 21, 2024. The company has now converted a total of 34,13,530 warrants into equity shares before this latest allotment, with 6,35,400 warrants still pending conversion.

Cumulative Impact on Share Capital

The latest warrant conversion has resulted in a significant increase in the company's paid-up equity capital structure. The capital expansion reflects the company's ongoing efforts to strengthen its financial position through equity participation.

Capital Structure: Before Latest Allotment After Latest Allotment Paid-up Capital: Rs. 19,48,64,300 Rs. 19,97,10,300 Number of Shares: 1,94,86,430 1,99,71,030 Face Value per Share: Rs. 10.00 Rs. 10.00

Regulatory Compliance

The allotment was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Chapter V of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has informed both the National Stock Exchange of India Limited and BSE Limited about this corporate action, ensuring transparency and regulatory compliance. The decision was formally communicated by Managing Director Padmaraj P. Pillai, who signed the disclosure document on behalf of the company.

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