The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for New Track Garments Pvt Ltd
PCJEWELLER · price
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Awaiting price reaction for this filing.
PC Jeweller's promoter group entity, New Track Garaments Private Limited, converted 30,842,400 fully convertible warrants into equity shares by paying the balance 75% of the issue price under a preferential allotment. As a result, New Track Garaments' holding rose from 66,666,720 shares (1.02%) to 97,509,120 shares (1.48%) of the company. With PAC Krishna Devi holding 484,628,130 shares (7.37%), the combined promoter group holding stands at 8.85% of total share capital post-conversion. The company's equity share capital increased from Rs.65.44 crore to Rs.65.75 crore due to the allotment.
This is a positive signal indicating continued promoter confidence, as the promoter group has invested additional capital by paying the balance warrant money to increase its stake rather than letting the warrants lapse.