Power & Instrumentation (Gujarat) Limited — Important, 19-02-2025: Disclosure of material issue

The Board of Directors has approved the allotment of 5,50,000 equity shares following the conversion of warrants on a preferential basis. The all shares are priced at Rs. 83.75 each, which includes a premium of Rs. 73.75. The conversion pertains to a total of 16,50,000 warrants previously issued to the promoter group, with this allotment reflecting the first series of conversions. Consequently, 11,00,000 warrants from the promoter group remain pending conversion. This move strengthens the company's equity base and could enhance liquidity, presenting a positive outlook for shareholders. Investors should monitor for further developments related to remaining warrants and potential impacts on equity distribution.