PC Jeweller's Strategic Debt Restructuring: A $1.5 Billion Shuffle
PC Jeweller Ltd has approved the allotment of 51.71 crore shares to lenders to settle Rs 1,510 crore debt. The preferential shares, priced at Rs 29.20 each, are part of a Joint Settlement Agreement with 14 banks. The decision accompanies a significant financial turnaround for the company.

- Country:
- India
PC Jeweller Ltd has taken a decisive step to address its outstanding debt by approving the allotment of 51.71 crore shares in a preferential issue aimed at settling Rs 1,510 crore with a consortium of lenders.
The company's board of directors decided on this strategic move, involving 14 banks, through a private placement, thereby issuing shares at Rs 29.20 each.
This allocation aligns with a Joint Settlement Agreement signed on September 30, 2024, and reflects the company's improved financial health following its report of a Rs 147.96 crore net profit in the latest quarter.
(With inputs from agencies.)
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