PC Jeweller Limited has completed the allotment of 7,90,45,290 equity shares on March 31, 2026, following the conversion of fully convertible warrants by two non-promoter public category investors. The Board of Directors approved the allotment through a circular resolution, with the final approval received at 5:46 PM on March 31, 2026.

Warrant Conversion Details

The allotment involved the conversion of 79,04,529 fully convertible warrants into 7,90,45,290 equity shares, each having a face value of ₹1. The conversion was executed at ₹42.15 per warrant, representing 75% of the issue price, and generated proceeds of ₹33,31,75,897.35 for the company.

Allottee Breakdown

The warrant conversion involved two allottees from the non-promoter public category. Unico Global Opportunities Fund Limited converted 78,92,729 warrants into 7,89,27,290 equity shares, receiving the majority allocation. Arpan Modani converted 11,800 warrants into 1,18,000 equity shares, completing the conversion process.

Impact on Share Capital Structure

The warrant conversion resulted in a significant change to the company's paid-up equity share capital structure. The total paid-up capital increased from ₹856,95,57,885 to ₹864,86,03,175, representing an addition of ₹7,90,45,290.

Shareholding Pattern Changes

The allotment has altered the company's shareholding pattern, with the promoter group's stake decreasing from 41.10% to 40.72%. Correspondingly, public shareholding increased from 58.90% to 59.28%, reflecting the dilution effect of the new equity shares issued to non-promoter investors.

The newly allotted equity shares rank pari-passu with existing equity shares of the company. The conversion was completed in accordance with SEBI regulations, following the company's earlier intimations dated September 30, 2024, and October 11, 2024, regarding the initial allotment of 48,08,02,500 fully convertible warrants through preferential allotment.

PCJ Jeweller Limited has successfully completed two significant warrant conversion exercises within a span of five days in March 2026, demonstrating strong investor confidence in the company's prospects. The jewellery retailer allotted a total of 55,28,07,430 equity shares through the conversion of fully convertible warrants, raising a combined ₹233.01 crore from multiple allottees.

March 2026 Warrant Conversion Summary

The company executed two separate warrant conversion processes, with the Board of Directors approving both allotments through circulation resolutions. The conversions were part of the preferential allotment process that began with the initial allotment of 48,08,02,500 fully convertible warrants in September and October 2024.

March 23, 2026 Conversion Details

The first conversion involved seven allottees from both promoter group and public categories. New Track Garments Private Limited, representing the promoter group, converted 94,90,000 warrants into 9,49,00,000 equity shares. Among public category investors, Ebisu Global Opportunities Fund Limited made the largest conversion with 1,22,00,000 warrants converted into 12,20,00,000 shares.

March 28, 2026 Conversion Details

The second conversion on March 28, 2026, involved four allottees with New Track Garments Private Limited again participating as the sole promoter group entity. The company converted 1,88,96,688 warrants into 18,89,66,880 equity shares, contributing ₹79,64,95,399.20 to the total proceeds.

Impact on Share Capital Structure

The combined warrant conversions resulted in a substantial increase in the company's paid-up equity share capital. Following both allotments, the total number of outstanding equity shares increased by 55,28,07,430, representing a significant expansion in the equity base.

Shareholding Pattern Evolution

The warrant conversions led to notable changes in the shareholding pattern, with promoter group participation increasing significantly in the March 28 conversion. The promoter and promoter group shareholding fluctuated from 40.39% initially to 39.83% after the first conversion, then increased to 41.10% following the second conversion.

Both conversions were executed at an adjusted rate of ₹42.15 per warrant, representing 75% of the issue price, with adjustments made for the stock split implemented on December 16, 2024. The newly allotted equity shares carry the same rights as existing shares and rank pari-passu with the company's current equity capital, providing PCJ Jeweller Limited with substantial additional capital for operational and growth requirements.