Power & Instrumentation (Gujarat) Limited has successfully completed the acquisition of an additional 8.94% stake in Peaton Electrical Company Limited, increasing its total shareholding to 60%. The company disclosed this strategic investment under SEBI regulations on March 18, 2026, with the acquisition valued at Rs. 3.13 crore through cash consideration.

Transaction Details

The acquisition represents a significant expansion of Power & Instrumentation's control in its subsidiary company. Prior to this transaction, the company held 51.06% stake in Peaton Electrical Company Limited.

About Peaton Electrical Company Limited

Peaton Electrical Company Limited was incorporated on November 22, 2006, and operates in the electrical manufacturing sector. The company specializes in manufacturing unitized substations, MV panels up to 33 KV, LV panels including motor control centres, power control centres, PLC based panels, bus trunking systems, auto synchronizing panels, APFCR panels, and distribution boards.

Financial Performance

Peaton Electrical has demonstrated growth in recent years, with its financial performance showing an upward trajectory:

Strategic Objectives

The acquisition is designed to strengthen collaboration between both companies in several key areas:

• Product development initiatives
• Implementation of new technologies
• Preferred supplier relationships for LT panels, bus trunking systems, and compact substations
• Creation of incremental manufacturing capacity for electrical materials business

Regulatory Compliance

The transaction has been structured as a related party transaction under Section 177 of the Companies Act, 2013, and Regulation 23 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The investment received approval from both the Audit Committee and Board of Directors, confirming compliance with applicable regulatory requirements.

The promoter and promoter group currently holds 40% shareholding in Peaton Electrical Company Limited. Following this acquisition, the existing promoters will continue to lead the management and operations of the subsidiary company. No governmental or regulatory approvals were required for completing this transaction.

Power & Instrumentation (Gujarat) Limited has completed a significant warrant conversion exercise, allotting 5,43,531 equity shares to promoter and non-promoter entities. The Board of Directors approved the allotment in their meeting held on March 18, 2026, converting warrants at Rs. 83.75 per share including a premium of Rs. 73.75.

Major Warrant Conversion Details

The comprehensive warrant conversion involved six allottees, with PADMARAJ P PILLAI HUF leading the conversion by exercising 2,15,000 warrants. The conversion represents the final exercise of warrants from the company's preferential issue program.

Share Capital Enhancement

The warrant conversion has significantly enhanced Power & Instrumentation's equity base, with the paid-up share capital increasing from Rs. 20.33 crore to Rs. 20.87 crore. The allotment represents the completion of the company's warrant conversion program.

Promoter Group Strengthens Position

PADMARAJ P PILLAI HUF, part of the promoter group, has significantly strengthened its position by converting all remaining 2,15,000 warrants. The entity's total shareholding has increased to 8,00,000 equity shares, representing 3.83% of the expanded share capital.

Regulatory Compliance and Market Impact

The allotment was conducted under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with comprehensive disclosures submitted to both NSE (Symbol: PIGL) and BSE (Scrip Code: 543912). The conversion price of Rs. 83.75 per share reflects confidence in the company's growth prospects.

The successful completion of the warrant conversion program demonstrates strong investor confidence and provides Power & Instrumentation with enhanced capital resources for future growth initiatives.