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PC Jeweller targets debt free status this quarter after repaying 96% of bank debt
The company said it plans to clear the remaining under 4% of bank debt in the same quarter.
PC Jeweller shares rebounded after the company said it has processed and repaid more than 96% of its total outstanding bank debt, positioning it to reach debt free status by the current quarter. According to the company, it repaid additional debt tied to 5 of the 14 consortium banks, supporting the progress toward its stated objective.
In an exchange filing, PC Jeweller said it will discharge and repay the remaining less than 4% of its outstanding bank debt within the current quarter to complete the debt free status. The stock opened around 1% higher at ₹ 9.21, slipped to a day low of ₹ 9.04, then recovered to an intraday high of ₹ 9.30 on BSE.
The company also disclosed equity allotment activity linked to promoter warrants. PC Jeweller allotted 3.05 crore equity shares to its promoter and managing director, Balram Garg, after conversion of an equal number of fully convertible warrants.
PC Jeweller said the board approved the allotment via a circular resolution on July 30, 2026, after Garg paid the remaining 75% of the warrant issue price, totaling ₹ 41.24 crore. The newly issued shares have a face value of ₹ 1 each, were issued at ₹ 18 per share including a ₹ 17 premium, and will rank pari passu with existing shares, according to the regulatory filings summarized by LiveMint Markets.