Announced Thu, 16 Jul · 17:31 IST
PC Jeweller plans 1000 crore QIP fundraise and hikes authorised capital
Corporate Actions View source PDF
PCJEWELLER · price
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Price reaction · full curve 14 horizons · vs prior close
-4.4%1-day move
₹10.30
prior close
₹10.35
base price
After-mkt
timing
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-4.7-5.8-4.4-4.7-4.4-2.4-5.2-8.8-9.8-10.7————
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AI summary
PC Jeweller's board approved increasing authorised share capital from 1,310 crore to 1,460 crore by adding 150 crore new equity shares of 1 rupee each. It also approved raising up to 1,000 crore through a Qualified Institutions Placement (QIP), issuing equity shares or other eligible securities in one or more tranches. A QIP committee has been formed to decide pricing, timing and structure. Shareholder approval will be sought via postal ballot.
Likely market impact
Equity dilution risk as up to 1000 crore of new shares may be issued, which could pressure the stock price depending on the QIP pricing.