PC Jeweller's Board of Directors approved the constitution of a QIP committee to oversee the proposed fundraise at a meeting held on July 16, 2026. The committee has been authorised to appoint necessary intermediaries, advisors and other agencies and to finalise key aspects, including the structure, size, timing and pricing of the QIP. The committee will also be responsible for preparing the preliminary placement document and the placement document, executing required documents, making requisite filings, and taking all necessary actions and decisions in connection with the proposed QIP. The company plans to raise up to ₹1,000 crore through the issuance of equity shares with a face value of ₹1 each and/or other eligible securities, or a combination thereof, via Qualified Institutions Placement (QIP) in one or more tranches. As per CNBC TV18, the fundraising proposal comes as the jewellery retailer continues to execute its turnaround strategy.
The board has also approved an increase in its authorised share capital from ₹1,310 crore to ₹1,460 crore by creating an additional 150 crore equity shares of ₹1 each. Following this increase, the capital structure will comprise 1,200 crore equity shares of ₹1 each and 26 crore preference shares of ₹10 each, along with a corresponding alteration to the Capital Clause of its Memorandum of Association. This capital expansion requires an amendment to the Capital Clause of the company's Memorandum of Association and approval from shareholders. The move will provide the company with enhanced flexibility for future growth initiatives and strategic investments.
PC Jeweller shares declined nearly 6% on Friday after the company announced raising funds through Qualified Institutions Placement (QIP). The penny stock declined as much as 5.80% to ₹9.73 apiece on the BSE, reflecting investor concerns about the fundraising dilution. At 10:45 AM, PC Jeweller share price was trading 3.19% lower at ₹10.00 apiece on the BSE. The stock has demonstrated strong recent performance with 10% gains in one month, though it has fallen 4% in six months. According to NSE data, as of July 16, 2026, PC Jeweller has a total market capitalisation of ₹8,908.06 crore. The stock has hit a 52-week high of ₹18 on July 17, 2025, and a 52-week low of ₹7.47 on March 30, 2026, with the current trading range reflecting the company's ongoing transformation journey.
In a significant development, PC Jeweller has successfully cleared and repaid all its outstanding debt under the terms of the settlement agreement dated September 30, 2024 with respect to one more bank, bringing the total to 4 out of 14 consortium banks that have been fully repaid. The company announced that the outstanding debts of all the 4 banks have been prepaid and discharged well before the scheduled due date of their repayment. With this successful clearance, the company expects to repay all its remaining debt obligations during the current quarter, marking a major milestone in the company's financial restructuring. During Q1 FY27, PC Jeweller reduced its outstanding debt that was payable to the banks under the terms of the Joint Settlement Agreement by another approximately 24%, bringing the total reduction to more than 90% as of date since the execution of the settlement agreement with banks on September 30, 2024. The company stated that the repayment of remaining outstanding debt and attaining a debt-free status in the ongoing quarter itself will significantly improve the company's financial position in the coming periods.
In a significant development, Ebisu Global Opportunities Fund Limited has increased its stake in PC Jeweller by converting warrants into equity shares, demonstrating continued institutional confidence in the jewellery retailer. The fund converted 50.5 crore equity shares, representing 5.20% of the company's voting capital, on the conversion of warrants into equity shares. The conversion occurred in two phases: 12.2 crore warrants converted on March 30, 2026 and 38.3 crore warrants converted on April 13, 2026. The investor had 5.05 crore warrants before conversion, which was equivalent to 5.334% on a warrant basis. The filing confirms that the investor is not a part of the promoter group or a promoter, indicating genuine institutional participation in the company's growth story.
