PC Jeweller Limited announced the allotment of 20,09,70,560 equity shares following the conversion of Fully Convertible Warrants. The conversion involved 2,00,97,056 warrants from the Promoter Group and the Public Category, raising aggregate funds of ₹84,70,90,910.40. This action leads to an increase in the total paid-up equity share capital, with the new shares ranking pari-passu with existing stock. The transaction follows the recent sub-division of the company’s equity shares.
Completion of Warrant Conversion and Allotment
PC Jeweller Limited confirms the successful allotment of 20,09,70,560 (Twenty Crore Nine Lakh Seventy Thousand Five Hundred Sixty) equity shares. This allotment is a direct consequence of exercising conversion rights attached to 2,00,97,056 Fully Convertible Warrants issued previously via preferential allotment.
The conversion was executed after the receipt of the balance subscription amount, aggregating to ₹84,70,90,910.40 (Rupees Eighty Four Crore Seventy Lakh Ninety Thousand Nine Hundred Ten and Paise Forty Only). The issue price per warrant exercised was calculated at ₹42.15, representing 75% of the total Issue Price, pursuant to the terms established in earlier announcements.
Impact of Share Sub-Division
It is noted that the number of shares allotted has been adjusted due to the corporate action of sub-division/split of the equity shares’ face value from ₹10/- each to ₹1/- each, effective from December 16, 2024.
Changes in Paid-Up Equity Capital Structure
The allotment has resulted in a material change to the company’s capital structure:
- Before Allotment: Paid-up equity share capital stood at 836,85,87,325 equity shares of ₹1/- each.
- After Allotment: The paid-up equity share capital has increased to 856,95,57,885 equity shares of ₹1/- each.
The newly issued shares will carry the same rights as the existing equity shares.
Breakdown of Allottees
The warrants were converted by four allottees categorized under the ‘Promoter Group’ and ‘Non-Promoter, Public Category’:
| Category | Warrants Applied for Conversion | Equity Shares Allotted | Amount Received (75% of Issue Price) |
|---|---|---|---|
| Promoter Group (A) | 1,88,96,688 | 18,89,66,880 | ₹79,64,95,399.20 |
| Public Category (B) | 1,20,03,680 | 1,20,03,680 | ₹5,05,95,511.20 (Combined Total for Public) |
| Total | 2,00,97,056 | 20,09,70,560 | ₹84,70,90,910.40 |
Resulting Shareholding Pattern
Following the allotment, the overall shareholding percentages have seen a shift:
- The shareholding of Promoters and Promoter Group (A) increased from 39.83% to 41.10%.
- The shareholding of the Public (B) category decreased from 60.17% to 58.90%, reflecting the dilution effect on the non-promoter public free-float.
The resolution approving these changes was formally approved by the Board, with the last approval recorded at 5:38 P.M. on the date of the announcement.
Source: BSE
