PC Jeweller Limited has completed the allotment of 6,85,50,000 equity shares through the conversion of fully convertible warrants, marking a significant capital raising exercise for the jewelry retailer. The Board of Directors approved the allotment on January 22, 2026, through a circular resolution, with the final approval received at 5:32 PM.

Warrant Conversion Details

The allotment involved the conversion of 68,55,000 warrants into 6,85,50,000 equity shares by six allottees from the non-promoter public category. The conversion raised ₹28,89,38,250.00 at the rate of ₹42.15 per warrant, representing 75% of the issue price. The newly allotted equity shares carry a face value of ₹1.00 each and rank pari-passu with existing equity shares.

Allottee-wise Distribution

The warrant conversion was completed by six non-promoter allottees, with Suresh Chand Garg HUF being the largest converter. The allotment details show varying conversion amounts among the participants.

Impact on Share Capital Structure

The warrant conversion resulted in a significant change to PC Jeweller's paid-up equity share capital structure. The company's total paid-up capital increased from ₹732,84,94,855 to ₹739,70,44,855, representing an addition of ₹6,85,50,000.

Shareholding Pattern Changes

The allotment has altered the company's shareholding pattern, with public shareholding increasing while promoter holding percentage decreased. The promoter and promoter group shareholding reduced from 37.19% to 36.85%, while public shareholding increased from 62.81% to 63.15%.

Background and Regulatory Compliance

The warrant conversion follows the company's earlier allotment of 48,08,02,500 fully convertible warrants through preferential allotment on private placement basis, as intimated in September and October 2024. The allotment numbers reflect adjustments made pursuant to the subdivision of equity shares from ₹10.00 face value to ₹1.00 face value, effective December 16, 2024. The company has complied with all regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

PC Jeweller shares witnessed significant momentum in Monday's trading session, surging up to 7% following the company's strong Q3FY26 business update and strategic partnership announcement with the Uttar Pradesh government. The stock reached an intraday high of ₹10.32 and was trading at ₹10.09, representing gains of over 5.50%.

Strong Financial Performance Drives Market Confidence

The company delivered robust standalone revenue growth of approximately 37% year-on-year during Q3FY26, driven by strong consumer demand during the ongoing festival and wedding season. This performance reflects PC Jeweller's ability to capitalize on seasonal opportunities and maintain its market position in the competitive jewellery sector.

Significant Debt Reduction Progress

PC Jeweller has made substantial progress toward achieving its debt-free status target. Since executing the Settlement Agreement with banks in September 2024, the company has successfully reduced its outstanding debt by approximately 68%. The financial restructuring shows remarkable improvement in the company's balance sheet position.

Strategic Partnership with Uttar Pradesh Government

PC Jeweller has formalized a significant partnership through a Memorandum of Understanding with the CM YUVA Mission under the Department of MSME and Export Promotion, Government of Uttar Pradesh. The company received approval for establishing 1,000 jewellery retail franchisee units across the state under the Chief Minister – Yuva Udyami Vikas Abhiyan initiative. This partnership aims to foster an entrepreneurial ecosystem, improve youth employability, promote self-employment and contribute to the economic development of Uttar Pradesh through innovation and enterprise creation.

Market Performance and Technical Outlook

Despite the current rally, PC Jeweller shares have corrected by more than 33% over the past 12 months. The stock is currently trading with a relative strength index of 54, indicating neutral market sentiment. The recent surge comes amid a broader uptick in gold prices, which have seen sharp increases over the past year, making gold an attractive safe haven for investors seeking to escape global market volatility.

Future Growth Strategy

Looking ahead, PC Jeweller has outlined clear strategic priorities focusing on expanding its retail footprint through the new franchisee network and achieving complete debt-free status. The expansion strategy through the CM-YUVA partnership is expected to enhance the company's visibility, scalability, and retail network reach while supporting local economic development. The company remains committed to consistently delivering strong performances in the upcoming quarters.

Note: The financial details provided are provisional and subject to Limited Review by Statutory Auditor.