PC Jeweller allots 3.64 crore shares following warrant conversion

PC Jeweller Limited has allotted 3.64 crore equity shares to its promoter and Managing Director, Balram Garg, following the conversion of the remaining fully convertible warrants. The allotment, approved via a circular resolution by the board, follows the receipt of approximately ₹49.09 crore in balance consideration.

The shares were issued at ₹18 each, which includes a premium of ₹17 per share. This transaction completes the conversion of all 9,72,22,222 warrants previously allotted to Garg through a preferential allotment on a private placement basis.

As a result of this conversion, the company’s paid-up equity share capital has increased to ₹980.78 crore from ₹977.14 crore. The promoter and promoter group’s holding has risen to 39.10% from 38.88%, while public shareholding has decreased to 60.90% from 61.12%. The newly issued shares rank pari passu with existing equity shares.