Power & Instrumentation Allots 5.43 Lakh Equity Shares Through Warrant Conversion

Power & Instrumentation (Gujarat) Limited has successfully completed the allotment of equity shares through warrant conversion, marking a significant milestone in its capital expansion strategy. The board meeting held on March 18, 2026, approved the conversion of convertible warrants into equity shares on a preferential basis.

Share Allotment Details

The company's board of directors approved the allotment of 5,43,531 equity shares through the conversion of an equal number of convertible warrants. The allotment was executed under the SEBI (Issue of Capital & Disclosures Requirement) Regulation, 2018, ensuring compliance with regulatory requirements.

Parameter: Details Shares Allotted: 5,43,531 equity shares Face Value: Rs. 10 per share Premium: Rs. 73.75 per share Total Price: Rs. 83.75 per share Allotment Basis: Preferential to promoter and non-promoter Original Warrant Issue Date: September 21, 2024

Capital Structure Impact

The warrant conversion has resulted in a substantial increase in the company's paid-up equity capital. The capital expansion reflects the company's growth trajectory and investor confidence in its business prospects.

Capital Component: Before Allotment After Allotment Paid-up Capital: Rs. 20,32,53,690 Rs. 20,86,89,000 Number of Shares: 2,03,25,369 shares 2,08,68,900 shares Face Value per Share: Rs. 10 Rs. 10

Warrant Conversion Framework

The converted warrants were part of a larger issuance of 50,96,000 convertible warrants originally allotted on September 21, 2024. The current conversion represents approximately 10.66% of the total warrants issued, indicating a phased approach to capital raising.

Board Meeting Proceedings

The board meeting was conducted at the company's registered office located at B-1104, Sankalp Iconic, Opp. Vikram Nagar Iscon, Temple Cross Road, S.G.Highway, Ahmedabad-380054, Gujarat. The meeting commenced at 04:45 PM and concluded at 05:30 PM on March 18, 2026, with Managing Director Padmaraj P. Pillai overseeing the proceedings.

The successful completion of this warrant conversion strengthens Power & Instrumentation's capital base and provides additional financial resources for its operational and strategic initiatives. The company has duly informed both NSE and BSE about this corporate action in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Power & Instrumentation (Gujarat) Limited has successfully completed the acquisition of an additional 8.94% stake in Peaton Electrical Company Limited, increasing its total shareholding to 60%. The company disclosed this strategic investment under SEBI regulations on March 18, 2026, with the acquisition valued at Rs. 3.13 crore through cash consideration.

Transaction Details

The acquisition represents a significant expansion of Power & Instrumentation's control in its subsidiary company. Prior to this transaction, the company held 51.06% stake in Peaton Electrical Company Limited.

Parameter: Details Additional Stake Acquired: 8.94% Total Shareholding Post-Acquisition: 60% Acquisition Cost: Rs. 3.13 crore Nature of Consideration: Cash Transaction Status: Completed

About Peaton Electrical Company Limited

Peaton Electrical Company Limited was incorporated on November 22, 2006, and operates in the electrical manufacturing sector. The company specializes in manufacturing unitized substations, MV panels up to 33 KV, LV panels including motor control centres, power control centres, PLC based panels, bus trunking systems, auto synchronizing panels, APFCR panels, and distribution boards.

Financial Performance

Peaton Electrical has demonstrated growth in recent years, with its financial performance showing an upward trajectory:

Financial Year: Turnover FY 2022-23: Rs. 25.38 crore FY 2023-24: Rs. 23.63 crore FY 2024-25: Rs. 36.04 crore

Strategic Objectives

The acquisition is designed to strengthen collaboration between both companies in several key areas:

Product development initiatives

Implementation of new technologies

Preferred supplier relationships for LT panels, bus trunking systems, and compact substations

Creation of incremental manufacturing capacity for electrical materials business

Regulatory Compliance

The transaction has been structured as a related party transaction under Section 177 of the Companies Act, 2013, and Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The investment received approval from both the Audit Committee and Board of Directors, confirming compliance with applicable regulatory requirements.

The promoter and promoter group currently holds 40% shareholding in Peaton Electrical Company Limited. Following this acquisition, the existing promoters will continue to lead the management and operations of the subsidiary company. No governmental or regulatory approvals were required for completing this transaction.

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