PC Jeweller converts 43.59 Cr warrants, raises ₹2,512.77 Cr

PC Jeweller Ltd has successfully completed the conversion of 43,58,82,572 Fully Convertible Warrants into equity shares for 111 allottees, including Promoter Group entities. These warrants were part of a total of 48,08,02,500 warrants allotted via preferential placement. The conversion occurred upon receipt of the balance amount of ₹42.15 per warrant. Consequently, 4,49,19,928 warrants lapsed, and their upfront amount was forfeited. The company raised a total of ₹2,512.77 crore, representing 93% of the total allotted warrants. A Promoter Group entity, New Track Garments, consciously allowed 3 crore warrants to lapse to avoid triggering open offer obligations.