Power & Instrumentation (Gujarat) Limited — Important, 16-03-2026: Disclosure of material issue

PIGL's board has allotted 3,54,339 new Equity Shares following the conversion of warrants by both its Promoter (Padmaraj P Pillai HUF) and a Non-Promoter (M/s Pulakeshin Private Limited). The shares were allotted at Rs. 83.75 each, including a premium of Rs. 73.75 per share.

**Issue:** This event marks the conversion of previously issued warrants into equity shares, a standard process where warrant holders choose to exercise their options.

**Impact for Investors:**

* **Capital Increase:** PIGL's paid-up equity capital has increased from Rs. 19.97 Cr to Rs. 20.33 Cr.

* **Share Dilution:** The total number of outstanding equity shares has risen from 1.99 Cr to 2.03 Cr. While this implies a minor dilution for existing shareholders, it also shows warrant holders converting at Rs. 83.75, injecting funds into the company.

* **Ownership Changes:** From these conversions, the Promoter's stake now includes 3,00,000 shares, and the Non-Promoter's includes 54,339 shares.

**Company’s Response:** This allotment is the company's action to fulfill its obligation under the warrant issue terms, thereby expanding its equity base and paid-up capital.