PC Jeweller Limited has informed the Exchange regarding 'Allotment of 34,67,82,850 equity shares on conversion of Fully Convertible Warrants & consequential changes in the paid-up equity share capital'.
PCJEWELLER · price
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On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 1.6 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 has allotted 34.68 crore equity shares (face value ₹1 each) after converting 3.47 crore fully convertible warrants held by 12 allottees from the promoter group and public category. The company received a balance amount of about ₹146.17 crore from the warrant holders at ₹42.15 per warrant (75% of the issue price of ₹56.20). As a result, the paid-up equity share capital has increased from ₹657.54 crore to ₹692.22 crore. Promoter group holding has come down slightly from 40.08% to 39.38%, while public holding has risen from 59.92% to 60.62%. This is a continuation of a preferential warrant allotment that was first announced in September–October 2024.
This is a pre-decided warrant conversion, so there is no surprise fundraising or dilution event for existing shareholders. The share count has expanded by about 5.3%, which will modestly dilute earnings per share going forward, though the company has already received the cash, strengthening its balance sheet.