PC Jeweller Ltd. shares dropped 5% to ₹158.50 as of 10:20 am on the NSE, continuing to slide following the company’s recent stock split announcement. The company revealed plans to split its equity shares in a 1:10 ratio, converting each ₹10 share into ten ₹1 shares. This strategic move is aimed at enhancing shareholder value and encouraging greater retail participation in the stock.
Key Highlights:
- Stock Split: The stock split will change each ₹10 equity share into ten ₹1 shares, making the shares more affordable for retail investors.
- Fundraising: Alongside the split, PC Jeweller announced plans to issue 11.5 crore fully convertible warrants at ₹56.20 per unit, aimed at raising approximately ₹646 crore.
- Share Performance: Despite the recent decline, PC Jeweller’s stock has seen a remarkable rise over the past year, surging by 614%.
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