PC Jeweller Limited has officially confirmed that there has been no deviation or variation in the utilization of proceeds from its recent preferential issues of fully convertible warrants and equity shares. The company stated that all proceeds were utilized for the objects outlined in the Explanatory Statement to the Postal Ballot Notice. During the quarter ended September 30, 2026, the conversion of warrants into equity shares was completed, and the entire issue proceeds were fully utilized as per the approved purposes.
Confirmation of Fund Utilization
PC Jeweller Limited has submitted its statement of deviation or variation in the utilization of issue proceeds for the quarter ended September 30, 2026. The company hereby confirms that there has been no deviation or variation in the utilization of funds raised from preferential issues of fully convertible warrants and equity shares, aligning with the objectives stated in the Explanatory Statement to the Postal Ballot Notice dated July 10, 2025, and its corrigendum.
Key Financial Activities in Q3 2026
During the quarter ending September 30, 2026, PC Jeweller completed the conversion of all 9,72,22,222 fully convertible warrants. These warrants were allotted to Shri Balram Garg, Promoter & Managing Director, and were converted into an equal number of equity shares at an issue price of ₹18/- per share. This conversion followed the receipt of the balance 75% consideration. The company further confirms that the entire proceeds received from these preferential issues were fully utilized within the said quarter.
Statement Review and Compliance
The statement detailing the deviation or variation for the quarter ended September 30, 2026, has been duly reviewed by the Audit Committee. This submission is in compliance with Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Fund Raising Details
The preferential issue involved amounts raised on various dates, including July 30, 2026 (₹41.24 Crore), August 03, 2026 (₹14.92 Crore), September 22, 2026 (₹10.00 Crore), September 23, 2026 (₹16.00 Crore), and September 24, 2026 (₹49.09 Crore). The total funds raised amounted to approximately ₹131.25 Crore, which have been fully utilized for the repayment of banker’s outstanding debts and working capital requirements, as per the allocated amounts.
Source: BSE
