PC Jeweller to raise Rs 2,705 cr via warrants; focus on loan settlement

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PC Jeweller to raise Rs 2,705 cr via warrants; focus on loan settlement - Business Standard

Quick Summary:

PC Jeweller Ltd plans to raise up to Rs 2,705 crore by issuing warrants on a preferential basis to promoters and investors, mainly to settle bank loans and for working capital requirements.

In a regulatory filing on Saturday, PC Jeweller informed that its board has approved the proposal to raise funds up to Rs 2,705.14 crore by preferential issue of fully convertible warrants.

Around 75 per cent of the fund will be used for repaying bank loans and the rest 25 per cent for working capital requirements," PC Jeweller MD Balram Garg told PTI.