PC Jeweller board approves issuing 51.7 mn shares to lenders to settle debt

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PC Jeweller board approves issuing 51.7 mn shares to lenders to settle debt - Business Standard

Quick Summary:

In a regulatory filing on Wednesday, the company informed that the board has approved "issuance of 5,17,11,462 equity shares to the Consortium Lenders for settling part of their outstanding debts by way of preferential allotment on private placement basis".

PC Jeweller Ltd's board has approved issuance of over 5.17 crore equity shares to a consortium of lenders, including SBI, to settle part of its outstanding debt.

PC Jeweller has opted for OTS (one-time settlement) for its outstanding dues with a consortium of banks.