PC Jeweller repays over 96% of bank debt as promoter raises stake
PC Jeweller allotted 3.055 crore shares to promoter and MD Balram Garg following warrant conversion, receiving a ₹41.24 crore balance payment. The retailer says less than 4% of its bank debt remains and targets becoming debt-free this quarter.
PC Jeweller allotted 3.055 crore shares to promoter Balram Garg after conversion of warrants and receipt of ₹41.24 crore. The jewellery retailer has repaid over 96% of bank debt and aims to become fully debt-free this quarter.
Why this matters
The update extends PC Jeweller's debt-reduction push after it repaid loans to 5 of 14 banks and cleared a ₹1,000 crore QIP as its shares slid.
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