PC Jeweller repays over 96% of bank debt, targets debt-free status this quarter
The jewellery retailer says less than 4% of its bank debt remains. It also allotted 3.05 crore shares to promoter Balram Garg through warrant conversion, lifting promoter holding to 38.69% from 38.49%.
PC Jeweller has processed repayment of over 96% of its bank debt and expects to become debt-free this quarter. It also allotted 3.05 crore shares to promoter Balram Garg after warrant conversion, modestly raising promoter ownership to 38.69%.
Why this matters
The repayment advances PC Jeweller's recent balance-sheet reset, following repayment of debt to five of 14 banks and board approval for a ₹1,000 crore QIP.
Retail-company signals are accelerating, up 257140% quarter over quarter.