PC Jeweller Shares Rise as Board Approves Debt Settlement with Banks

PC Jeweller's board has approved the allotment of 51.71 crore shares to a consortium of 14 banks to settle ₹1,510 crore in debt. The shares were issued at ₹29.20 each, increasing the company's paid-up equity capital from ₹583.8 crore to ₹635.5 crore. Despite the stock closing 4.16% lower at ₹13.39 on the NSE, it has risen 115.97% over the past year. PC Jeweller reported a ₹147.96 crore net profit in the December quarter, up from a ₹197.98 crore loss in the previous year.

Sources: Moneycontrol, NDTV Profit, The Week, Economic Times