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PC Jeweller Clears Debt of Fourth Consortium Bank Ahead of Schedule, Moves Closer to Debt-Free Status
PC Jeweller Ltd has announced another milestone in its debt reduction journey, informing stock exchanges that it has successfully repaid and...
PC Jeweller Ltd has announced another milestone in its debt reduction journey, informing stock exchanges that it has successfully repaid and cleared all outstanding dues owed to one more consortium bank under the terms of its Settlement Agreement dated September 30, 2024.
With this latest repayment, the jewellery retailer has now fully settled the outstanding debt of four out of its fourteen consortium banks, reinforcing its commitment to becoming debt-free during the current quarter.
In its regulatory filing, the company stated that the repayment was completed ahead of the scheduled due date, highlighting its improving financial position and strengthening balance sheet. Notably, the outstanding dues of all four banks that have been settled so far were prepaid well before their respective repayment deadlines.
