PC Jeweller Allots 3 Crore Shares to Promoter After Warrants Conversion; Capital Reaches ₹9,74 Crores
PC Jeweller Ltd. has completed the allotment of equity shares consequent to the conversion of fully convertible warrants held by its promoter and managing director, Shri Balram Garg. The move resulted in a slight increase in the company's paid-up equity share capital.The Board of Directors allotted 3,05,50,000 equity shares having a face value of ₹1/- each to Shri Balram Garg. This allotment was made upon the conversion of 3,05,50,000 Warrants. The total balance amount received for this conversion amounted to ₹41,24,25,000 at an issue price of ₹13.50 per Warrant.
The newly allotted equity shares are equal in status to the existing equity shares of the company.
Capital Structure Update
Following the allotment, the paid-up equity share capital of PC Jeweller Ltd. saw changes as detailed below:| Particulars | Before Allotment | After Allotment |
|---|---|---|
| Paid up equity share capital | ₹9,71,05,34,855 (comprising of 9,71,05,34,855 equity shares of ₹1/- each) | ₹9,74,10,84,855 (comprising of 9,74,10,84,855 equity shares of ₹1/- each) |
Shareholding Impact
The conversion and subsequent allotment impacted the shareholder composition. The public segment retained its shareholding, while the promoter group increased its stake.Data regarding the subscription outcomes before and after the preferential issue is as follows:
| Category | Before Allotment (Shares) | After Allotment (Shares) |
|---|---|---|
| Promoters and Promoter Group (A) | 373,80,15,960 | 376,85,65,960 |
| Public (B) | 597,25,18,895 | 597,25,18,895 |
| Total | 971,05,34,855 | 974,10,84,855 |
The conversion involved converting 3,05,50,000 Warrants into 3,05,50,000 fully paid-up equity shares having a face value of ₹1/- each at an issue price of ₹18/- each (including a premium of ₹17/- per share).
PCJEWELLER Stock Price Movement
PC Jeweller Limited shares edged higher in post-market trading, settling today at ₹9.13 after gaining 0.33%. The stock saw a total traded volume of 109.34 million shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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