PC Jeweller Q2: Promoter warrant conversion done, issue funds fully utilized
PCJEWELLER · price
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On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 1.1 pts less 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 confirmed no deviation in use of funds raised via preferential issue. Promoter Balram Garg converted 9.72 crore warrants into equity shares at Rs 18 each, paying the balance 75 percent (Rs 131.25 Cr). All proceeds fully utilized for debt repayment (Rs 434.42 Cr), working capital (Rs 65.22 Cr), and issue expenses (Rs 0.36 Cr). Audit Committee reviewed with no comments.
Promoter's higher equity stake signals confidence; debt repayment of Rs 434 Cr improves balance sheet. Funds fully deployed as planned.