PC Jeweller has announced a significant reduction in its outstanding bank debt, achieving a decrease of approximately 10% as part of a Joint Settlement Agreement with its consortium lenders. This move aligns with the company’s strategic objective of attaining a debt-free status.
The company further revealed that with this recent reduction, it has managed to repay over 90% of its total bank debt since the execution of the settlement agreement. This progress underscores PC Jeweller‘s commitment to swiftly achieving its financial goal of becoming debt-free.
The company has been actively working towards reducing its financial liabilities, and this latest development marks a significant milestone in its efforts to enhance financial stability.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).