PC Jeweller Shares in Focus on Monday After Warrant Conversion and NSDC Partnership

PC Jeweller Shares in Focus on Monday After Warrant Conversion and NSDC Partnership​

PC Jeweller shares are expected to remain in focus on Monday following key corporate developments, including a major equity allotment and a strategic partnership announcement.

The jewellery stock ended Friday’s trading session on a weak note, closing 1.48% lower at ₹8 per share on the NSE.

Equity Allotment Following Warrant Conversion​

In an exchange filing dated March 28, the company informed that its board approved the allotment of 20,09,70,560 equity shares after the conversion of fully convertible warrants.

The conversion involved 2,00,97,056 warrants held by promoter group entities as well as public shareholders. This exercise resulted in total fund mobilisation of ₹84.70 crore.

The company stated that the conversion was completed after receiving the balance subscription amount of ₹84,70,90,910.40. The exercise price stood at ₹42.15 per warrant, representing 75% of the total issue price, in line with previously disclosed terms.

The company also clarified that the newly allotted equity shares will rank pari passu with the existing equity shares.

Adjustment Post Face Value Split​

PC Jeweller noted that the allotment reflects adjustments made after the subdivision of its equity shares. The face value of shares was split from ₹10 per share to ₹1 per share, effective December 16, 2024.

MoU with NSDC Under National Entrepreneurship Drive​

In a separate filing on March 27, PC Jeweller announced the signing of a memorandum of understanding with the National Skill Development Corporation under the Ministry of Skill Development and Entrepreneurship.

Under this agreement, the company will serve as the industry or franchise partner for the gems and jewellery sector. The initiative aims to develop and onboard up to 2,00,000 micro-entrepreneurs across India over a period of five years under the PC Jeweller brand.

The partnership is part of the National Entrepreneurship Drive, a government-led initiative focused on employment generation, entrepreneurship development, and local economic growth across multiple sectors.

PC Jeweller Share Price Performance​

Despite recent developments, the stock has shown weakness in the near term. PC Jeweller shares have declined more than 4% over the past week and 19.35% in the last month.

On a broader scale, the stock is down 14% on a year-to-date basis and has fallen 41.69% over the past year.

However, the long-term performance remains strong. The stock has delivered returns of 202% over the last three years and 193% over the past five years, highlighting its multibagger track record.