PC Jeweller Issues 34.67 Cr Shares At Rs 42.15 Each To Promoters And Public; Here’s How

PC Jeweller Ltd, a key multibagger penny stock on the Indian stock exchange, announced the successful allotment of over 34.67 crore equity shares on the conversion of warrants into equity shares as part of a preferential allotment. The news is likely to keep the stock in the spotlight.

The allotment was approved by the Board of Directors through a resolution passed by circulation on July 25, 2025, the company said in a regulatory filing. The shares were allotted on conversion of 3,46,78,285 warrants issued to 12 allottees, which included one promoter and 11 non-promoter investors. Only the promoter of the Company has been allotted shares pursuant to the aforesaid issue, i.e. Balram Garg (HUF).

The allotment was made after the receipt of the balance 75% of the issue price, amounting to Rs 146.17 crore, at a price of Rs 42.15 per warrant, the company said. The latest offering came post the company's split of shares in the ratio of 10:1, on December 16, 2024. The new equity shares will rank equally with the company's existing equity shares.

This capital raise is a part of PC Jeweller's strategy of growth and financial consolidation. The company has cut its debt substantially, which is down by 52% at Rs 2,151 crore from Rs 4,150 crore in March 2024.

The stock has posted impressive long-term gains, jumping almost 850% over the past five years. In fact, the stock is up a whopping 70% over the past year alone, though performance in recent weeks has been more uneven. Shares are up 20% over the past month, but the stock remains flat year-to-date, and up only 8% from six months ago.