PC Jeweller Limited has informed the Exchange regarding Outcome of Board Meeting held on July 10, 2025.
PCJEWELLER · price
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Awaiting price reaction for this filing.
PC Jeweller's board, on July 10, 2025, approved raising funds of up to ₹499.99 crore through a preferential allotment on a private placement basis. This includes up to 9.72 crore fully convertible warrants at ₹18 each (totalling ~₹175 crore) to promoter Balram Garg, and up to 18.06 crore equity shares at ₹18 each (including a ₹17 premium, totalling ~₹325 crore) to Capital Ventures Private Limited (non-promoter/public). The issue price of ₹18 is stated to be higher than the SEBI-determined floor price under ICDR Regulations. The board also approved increasing the authorised share capital from ₹1,260 crore to ₹1,310 crore by creating 50 crore additional equity shares of ₹1 each. On a fully diluted basis, total shares will rise from ~657.5 crore to ~1,025.7 crore, with promoter holding moving from 39.09% to 40.32%. Member approval will be sought through a postal ballot process.
This is a sizeable equity fundraise that will dilute existing shareholders by roughly 56% on a fully diluted basis, which may weigh on the stock in the short term. However, promoter participation of ~₹175 crore signals confidence from the promoter, and the incoming capital could strengthen the company's balance sheet. Existing public shareholders should watch the postal ballot outcome and monitor the stock for price action around the record date for voting.