85% Jump In 1 Year: Small Cap Stock PC Jeweller In Focus On Upcoming Fundraising Deal Via Preferential Issue

PC Jeweller a small-cap company in the consumer discretionary sector is going to be the subject of attention in the coming sessions as the company is going to declare fundraising via preferential issue. PC Jeweller is one of the multibagger stocks in the D-Street as the scrip has surged 101.87% in 1 year. On Wednesday, the shares of PC Jeweller surged 6.62% intraday to Rs 65.89 during the afternoon deals after opening at Rs 61.15 apiece.

"Notice is hereby given pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 that a meeting of the Board of Directors of the Company will be held on Saturday, July 13, 2024, inter-alia, to consider and approve the raising of funds by way of preferential issue subject to necessary regulatory, statutory and other approval(s), if any, and determination of issue price. Trading Window for trading / dealing in the shares of the Company continue to remain closed w.e.f. 11:35 A.M. of March 19, 2024, in terms of the Company's "Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons"," said the company in a stock exchange filing on 09/07/2024.

In a letter dated July 6, 2024, Punjab National Bank confirmed its acceptance of PC Jeweller's One Time Settlement (OTS) plan. On July 7th, the company decided to use OTS to pay down the balance that was due. The authorised OTS has terms and conditions that include the release of securities and mortgaged properties, as well as cash and equity components payable under the settlement.

"The company continues to maintain a wide network of 60 showrooms (including 6 franchisee showrooms) located in 44 cities spread across 15 states across India as on March 31st, 2024. Also, the core strengths of the Company in the form of manufacturing & designing capabilities, manufacturing facilities, skilled staff, soft skills in the form of systems and procedures, customer policies, etc. remain intact. Supported by its strong historical financials, the company is aware of its growth potential and hence is also revamping all other aspects of its business operations such as, preparing to launch new jewellery collections, revamping its franchisee business, cost optimization etc," PC Jeweller said in a statement.

"All the above efforts have led to an increase in the company's operational levels, its revenue, customer footfalls and most importantly, regaining its customer's trust and brand goodwill in Q1 FY 2025. With the rise in its sales and operational levels and positive response from its customers, the company is confident of regaining its lost market share and business and of showcasing good performance in Q1 FY 2025 and in the quarters to follow," the company further informed stock exchanges.

The shares of PC Jeweller reached a 52-week-high at Rs 66.63 level on (05/03/2024) and a 52-week-low of Rs 25.45 level on (04/10/2023).