PIGL has allotted 3 lakh equity shares to its Promoter Group (M/S PADMAVIR HOSPITALITY LLP) at Rs. 83.75 per share.

These shares were issued upon conversion of previously held warrants. **Impact for investors:** This action increases PIGL's paid-up equity capital from Rs. 20.87 Cr to Rs. 21.17 Cr, with the total number of shares rising to 2.12 Cr.

Crucially, the promoter's holding in PIGL has increased from 6.71% to 8.03%. Such warrant conversions by promoters are often viewed as a strong signal of confidence in the company's future prospects, despite a minor dilution for existing shareholders due to the increased share count. **Company Action:** The Board of Directors formally approved this allotment.