PC Jeweller shares jump 9% to hit 52-week high; stock gains 83% in six months

Shares of PC Jeweller Ltd continued their strong upward momentum in Wednesday's trade, rising 9.34 per cent to hit a 52-week high of Rs 14.87. The stock was last trading 5.66 per cent higher at Rs 14.37. At this level, it has gained 83.06 per cent over the past six months.

The jewellery retailer recently informed the bourses that its promoter and Managing Director, Balram Garg, converted 74.08 lakh warrants into equity shares after paying Rs 10 crore to the company as the balance amount towards the conversion.

"We would like to further inform that the Board of Directors of the Company vide a resolution passed by Circulation on September 22, 2026 allotted 74,07,500 (Seventy Four Lakh Seven Thousand Five Hundred) equity shares having face value of Re 1/- (Rupee One Only) each to Shri Balram Garg, upon conversion of 74,07,500 (Seventy Four Lakh Seven Thousand Five Hundred) Warrants, upon receipt of the balance amount aggregating to Rs 10,00,01,250/- (Rupees Ten Crore One Thousand Two Hundred Fifty Only) at the rate of Rs 13.50 (Rupees Thirteen and Paise Fifty Only) per Warrant (being 75 per cent of the Issue Price per Warrant) pursuant to the exercise of his right of conversion of Warrants into equity shares in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The newly allotted equity shares shall rank pari-passu with the existing equity shares of the Company," the New Delhi-based company said.

Separately, the jeweller said it has cleared its debt obligations with 12 out of 14 consortium banks, successfully settling over 98 per cent of its total bank debt as it races toward becoming completely debt-free this month.

"In line with its objective of achieving a debt-free status in the current month itself, the Company has successfully cleared and repaid all its outstanding debt under the terms of Settlement Agreement dated 30 September 2024 with respect to 1 more bank. With this successful clearance of debt, the Company has now repaid all the outstanding debt of 12 out of the 14 consortium banks with all repayments completed ahead of scheduled due dates. Further, with this repayment, the company has now discharged more than 98 per cent of the outstanding debt of the banks. The company remains firmly on track to discharge the remaining less than 2 per cent of the outstanding debt of the banks and achieve a debt-free status in the current month itself, which will materially strengthen its balance sheet and financial position," PC Jeweller stated.