Power & Instrumentation (Gujarat) Limited — Important, 17-03-2025: Disclosure of material issue

The Board of Directors has decided to allot 2,50,000 equity shares at a price of Rs. 83.75 per share following the conversion of warrants held by the promoter group, specifically M/S Padmavir Hospitality LLP. This preferential allotment, which includes a premium of Rs. 73.75 per share, comes from a total of 50,96,000 warrants issued to both promoter and non-promoter groups.

Post-allotment, Padmavir Hospitality LLP will hold 2,50,000 shares, representing 1.48% of the company's equity. The conversion reflects an opportunity for enhanced liquidity and potential benefits for the company's capital structure. Stakeholders should monitor how this move affects overall investor sentiment and potential share dynamics, as it could influence the firm's market positioning and expansion strategies.