1:10 Stock Split Declared: Jewellery Stock Hits Upper Circuit, Shares Rise 248% In 90-Days

PC Jeweller Ltd shares today hit fresh 52-week high and touched upper circuit as well after the Board of Directors of the company approved 1:10 stock split. Current market price of PC Jeweller shares on BSE is Rs 177.95 per share with intraday gain of 4.99%. PC Jeweller shares also traded back-to-back upper circuit and 52-week high from September 23, 2024 to September 27, 2024. The company's market capitalization stood at Rs 8281.86 crore.

PC Jeweller Ltd shares offered stunning rally of 248% in last 3-months only and soared 576% in last 1-year. The company also issued an update on warrants in today's meeting. Check details below:

PC Jeweller Ltd Approves Stock Split: As per the BSE filing of PC Jeweller Ltd dated 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.

PC Jeweller Shares Performance: The 52-week high price of PC Jeweller shares on BSE is Rs 177.95 per share (as on 30/09/2024) and 52-week low price is Rs 25.45 per share (as on 04/10/2023), respectively. PC Jeweller shares zoomed 60% in last 1-month only, soared 253% year-to-date, surged 114% in last 2-years, and rallied 568% in last 3-years. In last 5-years, PC Jeweller stock rallied 452%.

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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