Metro India News | Hyderabad 

PC Jeweller Ltd has successfully executed its 1:10 stock split. It had earlier set December 16, 2024 as record date for sub-division, split of equity shares of the Company, in 1:10 ratio, i.e. 1 equity share be subdivided, split into 10 equity shares.

The company recently approved the allotment of shares to lenders for part settlement of outstanding debts. The board approved the Issuance of 5.18 crore equity shares of face value of INR 10 each, by way of preferential allotment on private placement basis to the Consortium Lenders classified under ‘Non‐Promoter, Public Category’ at INR 292 per share as issue price.

The issue price and quantity of issuance of equity shares shall be adjusted post Record Date for sub-division, split of face value of equity shares of the Company from INR 10 each share to INR 1 each share.

For Q2FY25, the company reported revenue at Rs. 505 Crores, recording a growth of 1430% YoY. The EBITDA was reported at Rs. 129 Crores. PBT came in at Rs. 124 Crores. For H1FY25, the revenue recorded an increase of 797% YoY, and came in at Rs. 906 Crores. EBITDA came in at Rs. 218 Crores, and PBT was reported at Rs. 207 Crores.

In continuation to the company’s efforts to amicably settle its issues with the banks, during Q2 FY25, the company’s Offer for Settlement (OTS) was approved by the competent authorities of all the 14 banks of the consortium. 

Further, the company has executed a Settlement Agreement with the consortium banks on 30th Sep 2024 and as per the terms of the Settlement Agreement, the Company has discharged and paid part of the cash consideration that it had to pay to the Lenders at the time of execution of Settlement Agreement. 

A substantial portion of this consideration was raised from the Promoter Group entities by means of subscribing to preferential issues of Fully Convertible Warrants of the Company.