Loan & Debt10 April 2026 at 03:31 pm
PC Jeweller reduces bank debt by 14%, repays majority outstanding
AI Summary
PC Jeweller Ltd announced a further reduction of its outstanding debt to banks by approximately 14%. This move is part of the company's objective to achieve a debt-free status. With this latest reduction, PC Jeweller has now repaid the majority of its outstanding debt owed to banks under the Joint Settlement Agreement, indicating significant progress towards its financial goals. The funds for this debt reduction came from the balance consideration received from the conversion of Fully Convertible Warrants into equity shares by both promoter and public entities. The company aims to become debt-free in the near future.
Key Highlights
- PC Jeweller reduced bank debt by approximately 14%.
- Company has now repaid majority of outstanding bank debt.
- Progressing rapidly towards a debt-free status.
- Debt reduction funded by warrant conversion proceeds.
- Promoter and public entities converted warrants to equity.