Shares of PC Jeweller are in focus after the company informed exchanges that its board has approved raising up to Rs 1,000 crore. According to the information shared, the funds will be raised through a qualified institutional placement (QIP). The funds will be raised through the issuance of equity shares or other eligible securities in one or more tranches. The board has also constituted a dedicated QIP committee to determine the process, including the size, timing, pricing, and other terms and conditions.
Amid this, the stock traded at Rs 9.76, down 5.52 per cent from the previous close. The market cap of the company stood at Rs 8,363.89 crore.
Increase in authorised share capital
The board has also approved an increase in its authorised share capital from the existing Rs 1,310 crore to Rs 1,460 crore.
This transition will involve the creation of an additional 150 crore equity shares of Rs 1 each, leading to a consequent alteration in the Capital Clause of the company’s Memorandum of Association. The changes are subject to the receipt of approval from members and other necessary regulatory and statutory bodies.
Repayment of outstanding debt to consortium banks
The company recently shared updates on repayment of outstanding debt to consortium banks ahead of schedule. According to information shared with exchanges, the company has now repaid all outstanding debt owed to four of the 14 consortium banks.
According to the company, the outstanding debts owed to four banks have been prepaid and discharged well before their scheduled due dates.
Posts 21% growth in revenue during Q1
Meanwhile, the company reported 21 per cent growth in consolidated revenue in the first quarter of this fiscal and said it will become debt-free during the July-September period.
In a regulatory filing, the company said that it concluded the first quarter of 2026-27 with a consolidated revenue growth of about 21 per cent year-on-year.
“Debt reduced by more than 90 per cent; Debt-Free status to be achieved in the current quarter itself,” it said in the business update.
PC Jeweller reduced its outstanding debt payable to banks under the terms of the Joint Settlement Agreement by another 24 per cent during the June quarter.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
