PC Jeweller says it has repaid over 96% of consortium bank debt; promoter adds Rs 41.24 crore via warrant conversion
AI Market Summary
PC Jeweller reported it has repaid over 96% of consortium bank debt and expects to clear the remaining sub-4% this quarter, implying a near-term shift to a debt-free balance sheet. A promoter warrant conversion added fresh capital (Rs 41.24 crore) and modestly increased promoter ownership, improving perceived financial stability and lowering interest-burden risk. The news is stock-specific with limited broader market spillover.
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PC Jeweller said it has repaid more than 96% of its consortium bank debt, with the remaining balance of less than 4% expected to be cleared within the current quarter, taking it to a debt-free position. The company also completed a fresh equity allotment after its promoter infused Rs 41.24 crore to pay the balance amount for warrants. Following the infusion, promoter and promoter group shareholding rose marginally from 38.49% to 38.69%.
