Power & Instrumentation (Gujarat) Limited, a key player in the power sector, has taken a significant step to strengthen its equity base. The company's Board of Directors has approved the allotment of 2,50,000 equity shares, marking a pivotal moment in its capital structure evolution.

Key Details of the Allotment

• Share Specifics:

  • Number of shares allotted: 2,50,000
  • Face value: Rs. 10.00 per share
  • Premium: Rs. 73.75 per share
  • Total issue price: Rs. 83.75 per share

• Warrant Conversion:

  • The allotment results from the conversion of 2,50,000 convertible warrants
  • These warrants are part of a larger issue of 50,96,000 convertible warrants from September 21, 2024

• Allotment Basis: Preferential basis to both promoter group and non-promoter group entities

Breakdown of Allottees

Impact on Shareholding

The allotment has resulted in a notable change in the company's shareholding pattern:

• Promoter Group: Increased stake from 7.65% to 8.38%
• Non-Promoter Entities: Collective increase in shareholding by 0.66%

Corporate Governance and Compliance

The company has meticulously followed the regulatory procedures for this allotment:

• Compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
• Adherence to Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
• Timely disclosure to stock exchanges

Looking Ahead

With this allotment, Power & Instrumentation (Gujarat) Limited has strengthened its capital base and demonstrated its ability to attract both promoter and non-promoter investments. The move may potentially support the company's future growth initiatives and operational expansions in the power sector.

Power & Instrumentation (Gujarat) has recently clinched a significant contract worth ₹21.39 crore from ATS Techno Limited. This new project involves the construction of a factory shed, showcasing the company's capabilities in industrial infrastructure development.

Contract Details

The comprehensive nature of this contract underscores Power & Instrumentation (Gujarat)'s expertise in delivering end-to-end solutions for industrial projects. By securing this order, the company demonstrates its strong position in the market and its ability to win substantial contracts in the industrial sector.

Project Scope and Timeline

The contract encompasses a wide range of services, including:

• Design of the factory shed
• Supply of necessary materials and equipment
• Installation of the structure and associated systems
• Testing of all installed components
• Commissioning of the completed project

With a stipulated completion time of 12 months, Power & Instrumentation (Gujarat) has set a clear timeline for the project's execution. This timeframe suggests a balance between efficient project management and the complexity of the work involved.

Market Implications

This contract win could have several potential implications for Power & Instrumentation (Gujarat):

1. Revenue Contribution: The ₹21.39 crore project may contribute to the company's revenue stream over the project duration.
2. Portfolio Expansion: Successfully executing this project could potentially lead to similar contracts in the future, possibly expanding the company's project portfolio.
3. Industry Recognition: Completing a project for ATS Techno Limited may enhance Power & Instrumentation (Gujarat)'s reputation in the industry.

As the project progresses, investors and market watchers may keep an eye on Power & Instrumentation (Gujarat)'s execution capabilities and any potential impact on its financial performance in the coming quarters.