The board has constituted a ?fund raising committee?, whose terms of reference include to decide the detailed terms and conditions of the issue, including but not limited to deciding the payment modalities / schedule thereof, issue price, rights entitlement ratio, record date, timing, other terms and conditions and all other related and ancillary matters etc.

Meanwhile, the company?s board also approved preferential issue of fully convertible warrants for Rs 500 crore. The proceeds of the preferential issue will be utilized towards the repayment of financial liabilities of the company, subject to the approval of the consortium of the lenders.

Further, the board of directors approved increase in authorised share capital of the company from Rs 760 crore divided into 50 fifty crore equity shares of Rs 10 each and 26 crore preference shares of Rs 10 each to Rs 1,260 crore divided into 100 crore equity shares of Rs 10 each and 26 crore preference shares of Rs 10 each, by creation of additional 50 crore equity shares of Rs 10/- each and alteration in the capital clause of memorandum of association, subject to the approval of members of the company.

PC Jeweller (PCJ) is one of the leading players in the gems and jewellery segment in India. PCJ with its headquarters in Delhi, is engaged in the manufacture, retail and export of gold, diamond and studded jewellery.

The company reported consolidated net loss of Rs 197.98 crore in Q3 FY24 as compared with net loss of Rs 61.12 crore recorded in Q3 FY23. Revenue from operations jumped 95.3% YoY to Rs 40.06 crore in Q3 FY24.

The scrip was locked in an upper circuit of 5% to end at Rs 55.89 on Tuesday, 16 April, 2024. The market is closed today on account of Shri Ram Navami.

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