PC Jeweller shares jumped more than 4% after the company successfully raised Rs 2,702.11 crore by allotting 36.58 crore fully convertible warrants to 114 allottees, including promoter group members and public investors, priced at Rs 56.20 each.
The allotment comes after the company’s recent preferential issue of 48.13 crore warrants, which was almost completely subscribed. Each warrant is convertible into one equity share, with the allotment requiring a 25% upfront payment and the rest 75% due within 18 months. The capital raised will go toward PC Jeweller’s strategic expansion efforts.
As of 10:09 am, PC Jeweller shares were trading 4.03% higher at Rs 159.40 on the NSE.
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