PC Jeweller allots 3.05 cr shares on warrant conversion to Promoter
PCJEWELLER · price
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On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 1.2 pts more than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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PC Jeweller allotted 3,05,50,000 equity shares to Promoter and MD Balram Garg on conversion of equal number of Fully Convertible Warrants at Rs 18 per share (Rs 17 premium). Company received Rs 41.24 crore being 75 percent of the issue price. Paid-up capital rose from Rs 971.05 crore to Rs 974.11 crore. Promoter holding went from 38.49 percent to 38.69 percent.
Minor dilution for public shareholders; promoter converting warrants signals continued commitment and modest rise in promoter stake.