NewsPadmavir Hospitality Converts Warrants into Equity Shares of Power & Instrumentation GujaratPadmavir Hospitality Converts Warrants into Equity Shares of Power & Instrumentation Gujarat
Padmavir Hospitality LLP converted 6,12,000 warrants into equity shares of Power & Instrumentation (Gujarat) Limited through preferential allotment on February 12, 2026. The conversion increased the promoter group entity's shareholding from 7,88,000 to 14,00,000 equity shares, representing 7.25% of total share capital. The company retains 3,00,000 unconverted warrants and filed the disclosure under SEBI regulations for substantial acquisition of shares.
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Padmavir Hospitality LLP has announced the conversion of warrants into equity shares of Power & Instrumentation (Gujarat) Limited through preferential allotment. The conversion was approved during a board meeting held on February 12, 2026, with the disclosure filed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Warrant Conversion Details
The promoter group entity converted 6,12,000 warrants into equity shares, significantly increasing its stake in the target company. The conversion represents 3.17% of the total share capital and 2.89% of the diluted share capital.
| Transaction Details: | Value |
|---|---|
| Warrants Converted: | 6,12,000 |
| Conversion Method: | Preferential Allotment |
| Conversion Date: | February 12, 2026 |
| Issue Price per Warrant: | Rs. 83.75 |
| Face Value per Share: | Rs. 10.00 |
Shareholding Position Analysis
The conversion has altered Padmavir Hospitality's shareholding structure in Power & Instrumentation (Gujarat) Limited. Before the conversion, the entity held 7,88,000 equity shares representing 4.21% of total share capital.
| Shareholding Comparison: | Before Conversion | After Conversion | Change |
|---|---|---|---|
| Equity Shares: | 7,88,000 | 14,00,000 | +6,12,000 |
| % of Total Capital: | 4.21% | 7.25% | +3.04% |
| % of Diluted Capital: | 3.72% | 6.61% | +2.89% |
| Remaining Warrants: | 9,12,000 | 3,00,000 | -6,12,000 |
Company Capital Structure
Following the warrant conversion, Power & Instrumentation (Gujarat) Limited's equity share capital has increased from Rs. 18,70,09,000 to Rs. 19,31,29,000, comprising 1,93,12,900 equity shares of Rs. 10.00 each. The total diluted share capital, assuming full conversion of all outstanding warrants, stands at Rs. 21,16,89,000 representing 2,11,68,900 equity shares.
Warrant Terms and Conditions
The converted warrants were fully convertible warrants, each exchangeable for one fully paid-up equity share with a face value of Rs. 10.00. The warrants carried an issue price of Rs. 83.75 per warrant and had a conversion period of 18 months from the date of allotment.
Regulatory Compliance
Padmavir Hospitality LLP, identified as a promoter group entity, submitted the required disclosure to both the National Stock Exchange of India Limited and BSE Limited. The company trades under the scrip symbol PIGL on NSE and scrip code 543912 on BSE. The disclosure ensures compliance with SEBI regulations governing substantial acquisition of shares and takeovers.
Historical Stock Returns for Power & Instrumentation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +2.73% | -1.08% | +2.17% | -37.12% | -36.58% | +19.37% |
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