US Markets
Home›US Markets›Equities›PC Jeweller becomes debt-free after repaying all bank…
PC Jeweller becomes debt-free after repaying all bank debt
The company said it repaid the full outstanding debt to 14 consortium banks ahead of the scheduled due dates.
PC Jeweller’s shares have surged as the jewelry retailer completes a turnaround, including a shift to a debt-free balance sheet, according to LiveMint Markets.
The company said it discharged the remaining outstanding debt of banks and achieved its financial objective of being debt-free after completing repayment under a settlement agreement dated September 30, 2024.
In its update, PC Jeweller said the repayments were completed ahead of the scheduled due dates and covered all outstanding debt of 14 consortium banks, a step it said would strengthen its balance sheet and financial position.
LiveMint Markets also links the rebound to investor confidence from reduced financial cost pressure, ongoing retail expansion, and improved financial performance.