PC Jeweller Limited announced the allotment of 7,90,45,290 equity shares following the conversion of Fully Convertible Warrants. This allotment was made to two ‘Non-Promoter, Public Category’ allottees after they paid the remaining balance amount aggregating to ₹33.31 crore. This action increases the company’s total paid-up equity share capital to 864,86,03,175 shares, reflecting a marginal shift in promoter vs. public shareholding percentages.
Completion of Warrant Conversion Process
PC Jeweller Limited has finalized the process of converting a tranche of Fully Convertible Warrants into equity shares. Pursuant to the earlier preferential allotment made to the ‘Promoter Group’ and ‘Non-Promoter, Public Category’, the Board of Directors approved the allotment of 7,90,45,290 equity shares on March 31, 2026.
The conversion involved 79,04,529 Warrants held by two Allottees classified under the ‘Non-Promoter, Public Category’. The conversion occurred after these parties remitted the balance payment, totaling ₹33,31,75,897.35. This amount represents 75% of the Issue Price per Warrant, calculated at a rate of ₹42.15 per Warrant.
Impact on Share Capital Structure
This allotment resulted in an increase in the total paid-up equity share capital. The face value of each allotted share is ₹1/-, and these new shares will rank pari-passu with the existing equity shares of the Company.
The table below summarizes the change in the paid-up equity capital following the allotment:
- Before Allotment: 856,95,57,885 equity shares.
- After Allotment: 864,86,03,175 equity shares.
Breakdown of Shareholding Changes (Annexure 1 Summary)
The conversion slightly altered the public shareholding relative to the total capital, particularly after accounting for the mandatory face value sub-division that occurred on December 16, 2024 (from ₹10/- to ₹1/- per share).
The post-allotment shareholding percentages are detailed as follows:
- Promoters and Promoter Group (A): Shareholding percentage moved from 41.10% to 40.72%.
- Public Category (B): Shareholding percentage moved from 58.90% to 59.28%.
- Total: Remains at 100.00% of the paid-up capital.
Details of Converting Warrants
The allotment was specifically structured based on the exercise price of ₹5.62 per share (which includes a premium of ₹4.62 per share) after the corporate action adjustment. The two non-promoter entities involved in the conversion were Unico Global Opportunities Fund Limited and Arpan Modani.
The total amount received from these two entities for the 7,90,45,290 shares allotted was ₹33,31,75,897.35.
The necessary board approvals for this circular resolution were completed and recorded at 5:46 P.M. on the date of the announcement.
Source: BSE
