250% return in five years! Multibagger penny stock PC Jeweller to raise ₹1,000 crore through QIP

PC Jeweller announced plans to raise up to ₹1,000 crore through a Qualified Institutions Placement (QIP) in one or more tranches, with its board approving the proposal on July 16. The stock slumped around 6% to ₹9.73 on the BSE on Friday following the announcement, reflecting dilution concerns. The company also approved an increase in its authorised share capital from ₹1,310 crore to ₹1,460 crore by creating an additional 150 crore equity shares of Re 1 each.