Power & Instrumentation (Gujarat) Limited — Important, 18-03-2026: Disclosure of material issue

PIGL has allotted 5.44 lakh new equity shares at Rs. 83.75 each, including a premium of Rs. 73.75, following the conversion of warrants by both promoter and non-promoter entities.

**Issue & Impact:**

This allotment increases the company's paid-up equity capital from approximately Rs. 20.33 crore to Rs. 20.87 crore. The total number of outstanding shares has now risen to approximately 2.09 crore. This conversion injects fresh capital into the company while also leading to a modest dilution for existing shareholders who did not participate.

**Company's Action:**

The Board approved this allotment at its meeting on March 18, 2026. Key allottees include Padmaraj P Pillai HUF, M/s Pulakeshin Private Limited, Sureshkumar Bansilal Shah, Manjulaben Shah, Manisha Vipulkumar Pathak, and Prakaash Sevantilal Shah.