PC Jeweller shares in focus after promoter stake rises, company repays debt to 7 consortium banks ahead of schedule
New Delhi [India], August 4: Shares of PC Jeweller are likely to remain in focus after the company announced two key corporate developments ...
New Delhi [India], August 4: Shares of PC Jeweller are likely to remain in focus after the company announced two key corporate developments on Monday. The jewellery retailer informed exchanges that its promoter and Managing Director, Balram Garg, converted a fresh tranche of fully convertible warrants into equity shares, while the company also announced the successful repayment of outstanding debt to two more consortium banks, taking the total number of banks repaid to seven.
According to the company’s regulatory filing, the Board approved the allotment of 1.105 crore equity shares to promoter and Managing Director Balram Garg upon conversion of an equal number of fully convertible warrants. The conversion followed the receipt of the balance subscription amount of ₹14.92 crore, representing 75 percent of the warrant issue price. The newly allotted shares will rank pari passu with the existing equity shares of the company. PCJ 1.pdf
