Shares of THIS Delhi-based company gains on allotment of 68.5 million equity shares, check details here

The company said in its filing that due to good demand from customers during the festive and wedding season, the company's standalone income increased by about 37% year-on-year.

Shares of PC Jeweller Ltd are seeing a rise of more than 1% today. In its latest exchange filing last Thursday, the company stated that, pursuant to a board resolution, it has allotted 68.5 million equity shares upon conversion of 6.85 million fully convertible warrants. These shares have been awarded to six non-promoter, public category allottees. Last seen, the company’s stock was trading at Rs 10.84, up 1.59% or Rs 0.17 on the BSE and at Rs 10.84, up 1.69% or Rs 0.18 on the NSE.

The company further stated that the allotment was made after the face value split of the equity shares (₹10 to ₹1). The remaining amount of ₹28.89 crore was received from investors for warrant conversion, at ₹42.15 per warrant (75% of the issue price).

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The company had recently informed in an exchange filing that on Tuesday, January 27, the board members of the company will meet to release the October-December quarter (Q3) results and 9-month financial results.

The company said in its filing that due to good demand from customers during the festive and wedding season, the company’s standalone income increased by about 37% year-on-year.

During this quarter, the company submitted a proposal to the Directorate of Industries and Enterprise Promotion under the Chief Minister Yuva Udyami Vikas Abhiyan (CM-YUVA) of the Uttar Pradesh government. The scheme aims to establish 1,000 jewellery retail franchise units in rural and semi-urban areas by supporting trained goldsmith entrepreneurs with the company. The proposal has been approved by the Uttar Pradesh government, and the company has also signed a Memorandum of Understanding (MoU) with the CM-YUVA Mission under the Department of MSME and Export Promotion.

This initiative will provide employment opportunities for youth, promote self-employment, and contribute to the state’s economic development. It will also strengthen the company’s brand recognition, expansion capabilities, and retail network.