PC Jeweller Ltd. Board Approves 1:10 Stock Split; Bank of India Approves One Time Settlement Proposal by the company

PC JewellerLtd. (BSE: 534809, NSE: PCJEWELLER), one of the leading and fastest-growing jewellery retail chains in India, has announced that its board has approved the sub-division / split of existing equity shares in the ratio of 1:10, sub division of 1 share in to 10 shares. Members’ approval for proposed sub-division / split of each equity share and consequent alteration of Capital Clause of Memorandum of Association of the Company will be taken through Postal Ballot.

Further, Pursuant to the approval of Members in the Extra-Ordinary General Meeting held on August 8, 2024 and ‘In Principle Approvals’ received from BSE Limited and National Stock Exchange of India Limited, allotment of 11.50 Cr Fully Convertible Warrants by way of preferential allotment on private placement basis to two of the Proposed Allottees belonging to Promoter Group category.

Recently, the company announced that Bank of India has conveyed its approval to the One Time Settlement (“OTS”) proposal submitted by the Company. The Company had opted for OTS to settle the outstanding dues. The terms and conditions of approved OTS include cash and equity components payable under settlement, release of securities and mortgaged properties etc.With this approval, all the fourteen consortium member banks have approved the OTS proposal submitted earlier by the Company.
Earlier, company reported a stellar turnaround story for Q1FY25. The company has started regaining its customer trust and goodwill which has resulted in an exponential growth in its topline and profitability.

PC JewellerLtd. embarked on its journey in 2005 with the inauguration of its first showroom in Karol Bagh, New Delhi. The company’s vision was to redefine elegance, allure, and style through exquisite jewellery. Today, PC Jeweller stands as one of the fastest-growing jewellery retail chains in India, with showrooms in multiple cities across over 17 states.

Since its inception, PC Jeweller has been a pioneer in design, with each product crafted to perfection. Whether it is elaborate wedding jewellery or affordable everyday wearables, PC Jeweller has consistently produced exceptional designs of unmatched quality. Over the years, their timeless pieces have transformed intimate moments into cherished lifetime memories.

PC Jeweller’s business model focuses on establishing large-format, standalone showrooms in prime high-street locations. These stores offer a diverse range of jewellery across all price points, with a growing emphasis on diamond jewellery. The company is committed to selling only hallmarked jewellery and certified diamond pieces, ensuring quality and purity. This dedication, coupled with transparent and customer-friendly policies, has swiftly established PC Jeweller as a trusted and respected brand.

From the sourcing of raw materials to the sale of the finished product, the company’s processes are integrated and meticulously aligned. The company closely maps customer preferences and manufactures products that cater to diverse tastes, ensuring customers are spoilt for choice. Throughout the production process, stringent quality measures are in place to guarantee the purity, value, and finish of each piece. PC Jeweller also offers expertise in customized and personalized designs, allowing customers to create their perfect jewellery pieces.

PC Jeweller’s remarkable journey has been marked by sustainable customer initiatives and unparalleled quality that has garnered loyal customer support. With a blend of contemporary and classic designs aimed at longevity, the company is dedicated to providing the best buying experience, whether through their online platforms or physical showrooms.

As PC Jeweller continues to draw inspiration, their commitment remains steadfast: to create the most desired jewels and to provide an unparalleled shopping experience.