Power & Instrumentation (Gujarat) Limited — Important, 31-01-2026: Disclosure of material issue

#PIGL Expands Capital Base via Warrant Conversion!

PIGL has allotted 6.78 lakh new equity shares to its Promoter Group after they converted their warrants. Each share was issued at Rs 83.75 (including a Rs 73.75 premium). This action took place following a board meeting.

**Issue:** Conversion of previously issued warrants into new equity shares by promoter group entities.

**Impact:**

* **Capital Increase:** The company's paid-up equity capital rises from Rs 18.02 crore to Rs 18.70 crore.

* **Cash Inflow:** This move injects approximately Rs 5.68 crore into the company from the warrant exercise.

* **Share Dilution:** Total outstanding shares now stand at 1.87 crore (up from 1.80 crore), which results in a slight dilution for existing non-promoter shareholders.

* **Promoter Holding:** The combined stake of the two promoter group entities involved in this conversion increased from 9.77% to 13.03%.

**Company's Action:** This share allotment is a corporate action by the company to convert outstanding warrants, strengthening its capital base and bringing in fresh funds.

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