Delhi-based PC Jeweller has informed exchanges that its board of directors has approved the allotment of 18.05 crore shares with a face value of Re 1 each at an issue price of Rs 18 per share to Capital Ventures Private Limited (CVPL) by way of preferential allotment on a private placement basis. According to the information shared with exchanges, the entity belongs to the 'non-promoter, public category'. The equity shares allotted to the company shall rank pari-passu with the existing equity shares of the company. Post this allotment of equity shares, the paid-up equity share capital of the PC Jeweller has increased to 724,86,23,705 from the existing 706,80,68,150.
Allotment Of 9.72 Crore Warrants
In a related development, the company's board of directors has also approved the allotment of 9.72 crore fully convertible warrants at an issue price of Rs 18 to the company's promoter and managing director, Balram Garg.
According to the information shared, these warrants were issued with an initial payment of Rs 4.50 per warrant. The company said that each warrant can be converted into one equity share of Re 1 face value within 18 months, upon payment of the remaining 75 per cent of the issue price.
Share Price Today
Meanwhile, the stock opened flat at Rs 14.97 on the BSE but fell to reach the low of Rs 14.22 amid profit booking. Last seen, the counter was trading at Rs 14.29, with a dip of 4.54 per cent. The market cap of the company stood at Rs 9,396.21 crore.
Technically, the stock trades higher than the 5-day, 20-day, 100-day and 200-day moving averages but lower than the 50-day moving averages.
Earlier, equity benchmark indices Sensex and Nifty fell in early trade on Friday after a three-day rally amid profit-taking in blue-chips Tata Consultancy Services and ICICI Bank.
The 30-share BSE Sensex declined 264.36 points to 82,749.60 in early trade. The 50-share NSE Nifty dropped 65 points to 25,358.60.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
