1:10 Split Soon: FII, LIC Backed Jewellery Stock Under Rs 190 Hits 3rd Consecutive Lower Circuit

PC Jeweller Ltd shares slipped 6.31% in last 1-week as it hit 3rd consecutive lower circuit on BSE. Last trading price of PC Jeweller shares on BSE is Rs 158.80 per share. Earlier on September 30, 2024, PC Jeweller recommended 1:10 stock split/sub-division of shares. The stock hit consecutive upper circuits and traded 52-week high from September 23 to September 27, 2024. The company's market capitalisation is Rs 7390.61 crore. In last 3-months, PC Jeweller shares delivered stunning returns of 209%. PC Jeweller declared a total of 7 dividends since September 6, 2013. This is the maiden stock split that PC Jeweller has announced. Check details below:

PC Jeweller Shareholding: FII/FPI have increased holdings from 0.93% to 2.57% in Jun 2024 qtr. Number of FII/FPI investors increased from 40 to 41 in Jun 2024 qtr. Institutional Investors have increased holdings from 2.38% to 4.06% in Jun 2024 qtr. It is worth mentioning that Life insurance corporation of India (LIC) has 1.45% stake in PC Jeweller with 6,751,662 shares of the company as of June 2024 quarter.

PC Jeweller Shares Performance: The 52-week high price of PC Jeweller shares on BSE is Rs 186.80 per share (as on 01/10/2024) and 52-week low price is Rs 25.81 per share (as on 05/10/2023), respectively. PC Jeweller shares offered eye-catching returns of 166% in last 6-months, zoomed 516% in last 1-year, and offered return of 513% in last 3-years. In last 5-years, PC Jeweller stock rallied 398%.

PC Jeweller Ltd Declared Stock Split: According to the exchange filing of PC Jeweller Ltd issued as on September 30, 2024, "sub-division / split of each equity share of face value of Rs 10/- (Rupees Ten Only) each, fully paid-up, into 10 (Ten) equity shares of face value of Re 1 (Rupee One Only) each, fully paid-up, by alteration of Capital Clause of Memorandum of Association of the Company, subject to the approval of Members of the Company. The Record Date for sub-division / split of existing equity shares will be intimated in due course."

PC Jeweller Gives Update On Warrants: The BSE filing added, "pursuant to the approval of Members in the Extra-Ordinary General Meeting held on August 8, 2024 and 'InPrinciple Approvals' received from BSE Limited and National Stock Exchange of India Limited, allotment of 11,50,00,000 (Eleven Crore Fifty Lakh) Fully Convertible Warrants ("Warrants") by way of preferential allotment on private placement basis to two of the Proposed Allottees belonging to Promoter Group category, at an Issue Price of ₹ 56.20 per Warrant, determined in accordance with the provisions of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("ICDR Regulations"), after receipt of stipulated amount i.e. 25% of the Issue Price as subscription amount in accordance with the provisions of ICDR Regulations."

Each of the Warrant, so allotted, is convertible into 1 fully paid-up equity share having face value of ₹ 10 (Rupees Ten Only) each, fully paid up, of the Company in accordance with the provisions of ICDR Regulations, on payment of the balance consideration i.e. 75% of the Warrant Issue Price by the Allottees within 18 months from the date of allotment of these Warrants, added the exchange filing.

About: PC Jeweller came into existence 2005 as P Chand Jewellers Private Limited, and became a public limited company in 2011. It started its journey with a single showroom in New Delhi's Karol Bagh, and currently has showrooms in 17 states and 67 cities.

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