PC Jeweller promoter converts 3.63 crore warrants into equity shares
PC Jeweller has allotted 3.63 crore equity shares to promoter and MD Balaram Garg following warrant conversion and a ₹49.08 crore balance payment. The company said it has repaid over 99% of its bank debt and targets becoming debt-free within the month.
What happened
PC Jeweller allotted 3.63 crore equity shares to promoter and MD Balaram Garg after conversion of remaining warrants, raising paid-up capital to ₹980.78 crore.
Key facts
- 3,63,62,222 fully convertible warrants converted into equity shares
- ₹49.08 crore balance payment, representing 75% of warrant issue price
- 9,72,22,222 warrants originally allotted to promoter Balaram Garg on 18 September 2025
- Paid-up equity capital increased from ₹977.14 crore (97.71 crore shares) to ₹980.78 crore (98.08 crore shares)
- Company says it has repaid over 99% of total bank debt and fully repaid 13 of 14 consortium banks
What changed
PC Jeweller allotted 3.63 crore equity shares to promoter and MD Balaram Garg after conversion of remaining warrants, raising paid-up capital to ₹980.78 crore. The jeweller also says it has repaid over 99% of bank debt and aims to become debt-free this month.
Why this matters
Promoter Balaram Garg’s ₹49.08 crore warrant conversion strengthens PC Jeweller’s capital base and signals confidence as the company targets debt-free status within the month.
What to watch
- Company confirmation that bank debt is fully repaid within the stated month.
- Quarterly revenue growth, gross margin and EBITDA recovery after interest-cost reduction.
- Operating cash flow versus inventory and receivables growth.
- Changes in promoter holding following conversion and any further warrant/equity actions.
- Supplier terms, inventory availability, store additions or closures, and audit/litigation-related disclosures.