Power and Instrumentation (Gujarat) Ltd. Announces Acquisition of Shares Through Preferential Allotment

Power and Instrumentation (Gujarat) Ltd. Announces Acquisition of Shares Through Preferential Allotment​

Power and Instrumentation (Gujarat) Ltd. announced a preferential allotment of equity shares on March 19, 2026, according to a disclosure submitted to the National Stock Exchange of India Limited and BSE Limited.

PADMARAJ P PILLAI HUF, acting as an acquirer and belonging to the Promoter group, acquired 2,15,000 equity shares through the preferential allotment. This represents a 1.03% stake in the company, increasing their overall holding to 3.83% of the total share/voting capital and 3.78% of the total diluted share/voting capital.

Prior to the acquisition, PADMARAJ P PILLAI HUF held 5,85,000 shares, representing 2.88% of the total share/voting capital and 2.76% of the total diluted share/voting capital. The total holding before the acquisition was 8,00,000 shares, representing 3.94% of total share/voting capital and 3.78% of total diluted share/voting capital.

The preferential allotment involved fully convertible warrants, each convertible into one equity share with a face value of Rs. 10, at an issue price of Rs. 83.75 per warrant. The warrants are convertible within 18 months from the date of allotment, March 18, 2026.

Following the acquisition, the equity share capital of Power and Instrumentation (Gujarat) Ltd. stands at Rs. 20,86,89,000, comprising 2,08,68,900 equity shares. The total diluted share/voting capital after the acquisition and potential warrant conversion is Rs. 21,16,89,000, comprising 2,11,68,900 equity shares.

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