PC Jeweller Limited has informed regarding Disclosure of material issue
PCJEWELLER · price
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PC Jeweller has completed the conversion of 43,58,82,572 Fully Convertible Warrants into equity shares, raising approximately ₹2,513 crore (93% of the total 48,08,02,500 warrants allotted). The conversion price was ₹42.15 per warrant, with the balance 75% of the issue price paid upon conversion. Out of 116 allottees, 111 converted their warrants, while 4,49,19,928 warrants (7%) lapsed upon expiry of their 18-month tenure. Promoter group entities including New Track Garments, Balram Garg (HUF), and Pooja Garg converted 12 crore warrants, while notable non-promoter allottees included Unico Global Opportunities Fund (5.45 crore warrants) and Ebisu Global Opportunities Fund (5.05 crore warrants). For the lapsed warrants, the upfront amount received stands forfeited by the company per ICDR regulations.
The conversion significantly dilutes existing shareholders as ~435.9 million new equity shares are issued. However, it strengthens the company's equity base and reduces debt obligations, with ₹2,513 crore inflow improving the balance sheet. The large promoter participation signals management confidence, though the substantial warrant exercise by multiple allottees could create near-term selling pressure.