PC Jeweller has cleared outstanding debt to two additional banks, bringing the total number of repaid lenders to seven out of 14 consortium banks under the Settlement Agreement dated 30 September 2024. The company announced on August 03, 2026, that these repayments were completed ahead of their scheduled due dates, reinforcing its stated objective to achieve a debt-free status in the current quarter. This progress marks a significant step in the company's broader financial restructuring efforts.

The repayment was executed in line with the terms of the Settlement Agreement dated 30 September 2024. Vishan Deo, Executive Director (Finance) & CFO, confirmed that the company has prepaid and discharged the outstanding debts of all seven banks thus far. The company intends to continue this trajectory to clear remaining liabilities within the current quarter.

Repayment Progress

The following table summarises the current status of PC Jeweller's debt repayment across its consortium banking arrangement:

Strategic Implications

The early discharge of debt obligations reflects strong liquidity management by the company. By clearing half of the consortium bank debts before their due dates, PC Jeweller is reducing interest accrual and potential penalty risks associated with delayed payments. This proactive approach aligns with management's goal of achieving a debt-free status in the current quarter, which could improve the company's credit profile and operational flexibility once all 14 banks are fully settled.

pc jeweller has initiated the e-voting process for shareholders to approve a Qualified Institutions Placement (QIP) of up to ₹1,000 crore and an increase in authorized share capital. The move aims to fund retail expansion, enhance manufacturing capabilities, and pursue strategic growth opportunities. Voting rights are determined based on shareholding as of the cut-off date, July 10, 2026. This capital raise positions the company to capitalize on structural shifts in the Indian gems and jewellery sector, driven by rising disposable incomes and mandatory BIS hallmarking.

The e-voting window opened at 9:00 A.M. on July 25, 2026, and will close at 5:00 P.M. on August 23, 2026. PC Jeweller appointed KFin Technologies Limited as the agency for e-voting and Ramit Rastogi, Practicing Company Secretary, as the scrutinizer. The company notified the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on July 27, 2026, regarding the newspaper publications of the postal ballot notice in Financial Express and Jansatta, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Resolutions and Terms

Alongside the QIP, shareholders are asked to approve an increase in the authorized share capital from ₹1,310 crore to ₹1,460 crore. This involves creating an additional 150 crore equity shares of ₹1 each, bringing the total equity share count to 1,200 crore. The preference share component remains unchanged at 26 crore shares of ₹10 each. This capital increase is necessary to facilitate the proposed issuance and provide flexibility for future capital raising requirements.

Leadership Continuity and Shareholder Actions

The postal ballot also seeks approval for the re-appointment of Balram Garg as Managing Director for a term of five years, effective from July 1, 2026, to June 30, 2031. Garg, who has been with the company since its incorporation in April 2005, did not draw any remuneration during his previous term. The proposed remuneration includes a monthly salary of ₹20 lakh, subject to an annual increment of up to 20%, along with ex-gratia/bonus and gratuity as per company rules and applicable laws. He will also be provided with a company-maintained car for official use.

Under the QIP terms, no single allottee can hold more than 50% of the issue size. A minimum of 10% must be allotted to mutual funds. Allottees face a one-year lock-in period from the date of allotment. The Board is authorized to determine pricing, which may include a discount of up to 5% as permitted under SEBI’s ICDR Regulations. A credit rating agency will monitor the use of proceeds quarterly until full utilization.

Additionally, in compliance with SEBI circular HO/38/13/11(2)2026-MIRSD-POD/3750/2026 dated January 30, 2026, the company has opened a special window for the transfer and dematerialization of physical shares. This window is open from February 5, 2026, to February 4, 2027, for investors who bought or sold physical shares before April 1, 2019, but have not completed the transfer process. Investors can contact KFin Technologies Limited via email at einward.ris@kfintech.com or toll-free number 1800-309-4001 for assistance.