Share Market News: This company stock ends session in green as it repays over 96 percent of its debt, promoter increases stake
In a separate filing, the company said it is rapidly progressing towards its goal of becoming completely debt-free in the current quarter. Previously, the company had repaid its outstanding debt to five of the 14 banks in the consortium.
Stock Market News
New Delhi: PC Jeweller Ltd., a jewellery company with a market cap of Rs 7,896.17 crore, was on investors' radar today. The company provided investors with two significant updates after market hours last Thursday. According to the company's earlier exchange filing, PC Jeweller's promoter and managing director Balram Garg has been allotted 3.05 crore (3,05,50,000) equity shares after the conversion of 3.05 crore fully convertible warrants into equity shares.
To this end, Balram Garg deposited the remaining amount of 41.24 crore (Rs 41,24,25,000) at 13.50 per warrant (75% of the issue price). The Company had allotted a total of 9.72 crore (9,72,22,222) warrants expiring in September 2025 to Balram Garg on a preferential basis.
In a separate filing, the company said it is rapidly progressing towards its goal of becoming completely debt-free in the current quarter. Previously, the company had repaid its outstanding debt to five of the 14 banks in the consortium.
The company has now repaid a significant portion of its remaining bank debt. This brings the total outstanding debt to banks to over 96%. The company says the remaining less than 4% of its debt will also be repaid this quarter, making it completely debt-free.
The company's stock was ended the trading session at Rs 9.26, up 1.54 % or Rs 0.14 on the BSE.
Earlier, PC Jeweller Ltd reported 21 per cent growth in consolidated revenue during the first quarter of this fiscal and said it will become a debt-free company during the July-September period.
In a regulatory filing, the company said that it concluded the first quarter of 2026-27 with a consolidated revenue growth of about 21 per cent year-on-year. Debt reduced by more than 90 per cent; Debt-Free status to be achieved in the current quarter itself," it said in the business update.
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