💎 PC Jeweller Converts ₹13 Cr Worth of Warrants – Promoter Holding Inches Up Again

Yes, they’re still alive — and yes, they’re still issuing shares.

On May 29, 2025, PC Jeweller Ltd (NSE: PCJEWELLER) quietly approved the conversion of 30.84 lakh warrants into 3.08 crore equity shares, further bloating its already-heavy capital base.

Let’s unpack this bedazzled dilution in plain English:

📌 At a Glance

• 🧾 Warrants Converted: 30,84,240
• 💎 Shares Allotted: 3,08,42,400 (face value ₹1 each)
• 💸 Amount Received: ₹13 crore (at ₹42.15 per warrant; 75% of issue price)
• 🎯 Allottee: New Track Garments Pvt. Ltd (Promoter Group)
• 📈 Promoter Holding: Rises from 39.80% → 40.08%
• 🧨 Paid-up Capital: Now at ₹657.54 crore

🏢 Quick Context: What Just Happened?

Remember back in Sept–Oct 2024, PCJ issued 48 crore warrants through preferential allotment? This conversion is