PC Jeweller board clears Rs 1,000 cr QIP, 150 crore new shares to expand capital base
PC Jeweller's board approved raising authorised share capital to Rs 1,460 crore (from Rs 1,310 crore) via 150 crore new equity shares and a Rs 1,000 crore QIP, pending shareholder and regulatory nods. The stock slid ~4% to Rs 9.91 on dilution concerns.
PC Jeweller's board approved raising authorised share capital to Rs 1,460 crore via 150 crore new equity shares and a Rs 1,000 crore QIP, subject to shareholder and regulatory approvals. Stock fell ~4% on the news.
Why this matters
The QIP follows PC Jeweller's recent debt cleanup, having prepaid loans to multiple banks and declared debt-free status. Prior board discussions weighed this fundraise, now formalized to strengthen its capital base.
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