The company plans to increase its authorised share capital from ₹1,310 crore to ₹1,460 crore by creating an additional 150 crore equity shares of face value ₹1 each. The move will require an amendment to the Capital Clause of the company’s Memorandum of Association and approval from shareholders.
Alongside the capital expansion, the board approved raising up to ₹1,000 crore through the issuance of equity shares and/or other eligible securities via a QIP. To facilitate the process, the company has also constituted a Qualified Institutions Placement Committee, which will oversee the appointment of intermediaries, determine the structure, pricing and timing of the issue, and complete all necessary regulatory and statutory formalities.
Ahead of the announcement, shares of PC Jeweller Ltd ended 2.6% lower at ₹10.30 on the NSE.
The fundraising proposal comes as the jewellery retailer continues to execute its turnaround strategy. In its business update for the June quarter, the company said consolidated revenue rose around 21% year-on-year, supported by sustained demand across its jewellery business.
It also reduced its outstanding debt by a further 24% during the quarter, taking the overall debt reduction to more than 90% since signing a joint settlement agreement with lenders in September 2024. The company expects to become debt-free during the current quarter, a milestone it believes will strengthen its balance sheet, reduce interest costs and improve financial flexibility.
The improving operational performance follows a strong finish to FY26. In the March quarter, PC Jeweller reported a 61.3% year-on-year rise in net profit to ₹152.9 crore, while revenue increased 32.7% to ₹927.3 crore. For the full financial year, revenue grew around 49%, while operating profit after tax jumped 80%, reflecting continued recovery in the business as the company accelerated deleveraging and strengthened its financial position.
