PC Jeweller Limited has announced a further reduction in its outstanding bank borrowings, marking steady progress in its efforts to strengthen its financial position and move toward a debt-free status.
Debt Reduction Gains Momentum
The company revealed that it has reduced its bank debt under the Joint Settlement Agreement by nearly 14%. With this latest repayment, PC Jeweller has cleared a substantial portion of its obligations to lenders.
This step forms part of a broader financial restructuring strategy aimed at improving balance sheet health and enhancing long-term financial stability.
Funding Through Warrant Conversion
The repayment has been enabled by funds raised through the conversion of fully convertible warrants into equity shares. Both promoter group entities and public shareholders participated in the conversion process.
Out of 48.08 crore warrants issued earlier on a preferential basis, the company has successfully converted 43.58 crore warrants into equity shares.
Through this process, PC Jeweller raised approximately ₹2,512.77 crore, representing around 93% of the total issue value, which has been utilised to reduce debt.
Lapsed Warrants and Capital Adjustments
A portion of the warrants—about 4.49 crore—expired without being exercised within the stipulated time. As per regulatory norms, the upfront amount received against these lapsed warrants has been forfeited by the company.
Additionally, the promoter group chose not to exercise a part of its entitlement to ensure compliance with shareholding limits and avoid triggering open offer requirements under regulatory guidelines.
Share Price Update
As of April 10, 2026, PC Jeweller’s share price closed at ₹9.35, reflecting a marginal decline of 0.05% compared to the previous trading session.
Conclusion
PC Jeweller’s continued focus on debt reduction and capital restructuring highlights its commitment to improving financial health. The successful warrant conversion and subsequent repayment have brought the company closer to its goal of becoming debt-free.
Summary:
PC Jeweller has reduced its bank debt by 14% using funds raised through warrant conversion, raising over ₹2,500 crore. The move marks significant progress in its deleveraging strategy and strengthens its path toward achieving a debt-free balance sheet.
Disclaimer:
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