PC Jeweller Repays Debt to 13 of 14 Banks, Nears Debt-Free Status

PC Jeweller Ltd has announced the successful clearance and repayment of outstanding debt to one more bank under a settlement agreement dated September 30, 2024. This brings the total number of consortium banks to whom debt has been repaid to 13 out of 14. The company has now discharged over 98% of its outstanding bank debt and remains on track to achieve a debt-free status within the current month. This significant deleveraging is expected to materially strengthen the company's balance sheet and financial position.