PC Jeweller Limited has informed the Exchange regarding Notice of Postal Ballot
PCJEWELLER · price
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PC Jeweller has sent a postal ballot notice to shareholders seeking their approval via e-voting (from July 12 to August 10, 2025, with cut-off date July 4, 2025) on three special business items. First, the company proposes to increase its authorised share capital from ₹1,260 crore to ₹1,310 crore by adding 50 crore new equity shares of ₹1 each. Second, it plans to issue up to 9.72 crore fully convertible warrants to Promoter and Managing Director Balram Garg at ₹18 per warrant, potentially raising up to ₹175 crore (25% upfront, 75% on conversion within 18 months). Third, it plans to issue up to 18.06 crore equity shares of ₹1 each to Capital Ventures Private Limited (a non-promoter, public category entity) at ₹18 per share, potentially raising up to ₹325 crore. Together, the preferential issues could raise up to about ₹500 crore.
If approved, existing shareholders could face significant dilution of up to roughly 40% on a fully diluted basis once the warrants convert. However, the ₹500 crore fundraise could strengthen the balance sheet, and promoter Balram Garg's personal participation signals confidence in the company's future. Shareholders should review whether the ₹18 issue price is fair relative to prevailing market price before voting.