PC Jeweller Limited has informed the Exchange about General Updates regarding Corrigendum to Postal Ballot Notice dated July 10, 2025.
PCJEWELLER · price
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PC Jeweller has issued a corrigendum to its July 10, 2025 postal ballot notice, modifying the explanatory statement for Item Nos. 2 and 3 relating to a ₹500 crore preferential issue of Fully Convertible Warrants and equity shares. As per the revised disclosure, ₹434.27 crore of the proceeds will go towards repaying bank dues (across 14 banks led by SBI at ₹148.35 crore) by September 30, 2026, while ₹65.33 crore is earmarked for working capital and ₹0.40 crore for issue expenses by March 31, 2027. Total bank dues stand at ₹2,457 crore, of which ₹2,022.73 crore is being cleared from an earlier 2024 preferential issue. The corrigendum also clarifies that the only prior preferential allotments in FY 2025-26 were warrant conversions — 18.92 crore shares to 14 allottees on April 29, 2025 and 3.08 crore shares to 1 allottee on May 29, 2025, both at ₹5.62 per share. Members who have already voted can revise their votes via email to the Scrutinizer until 5:00 PM on August 10, 2025, the last day of e-voting.
The use of fresh capital primarily for bank debt repayment signals continued balance sheet repair rather than growth investment, which may reassure lenders but limit near-term growth upside. Shareholders should note they retain the option to revise their votes before the August 10 deadline in light of the revised use-of-proceeds details.