PC Jeweller’s board has approved a proposal to raise up to Rs 1,000 crore through a Qualified Institutions Placement (QIP), subject to shareholder and regulatory approvals. 

The move is aimed at strengthening the company’s financial position and supporting its next phase of growth.

Alongside the fundraising plan, the board approved an increase in the company’s authorised share capital from Rs 1,310 crore to Rs 1,460 crore by creating an additional 150 crore equity shares of Re 1 each. 

The proposal will require shareholder approval and an amendment to the company’s Memorandum of Association.

The proceeds from the QIP will primarily be used for business expansion, strategic growth initiatives, working capital requirements, and other general corporate purposes. To oversee the fundraising process, the company has also constituted a dedicated QIP committee responsible for appointing advisors, finalising the issue structure, pricing, and regulatory filings.

The fundraising comes as PC Jeweller continues its turnaround journey. Earlier this month, the company reported approximately 21% year-on-year growth in consolidated revenue for the June quarter and stated that it expects to become debt-free during the current quarter, with the remaining debt being repaid through proceeds from an earlier preferential warrant issue and internal accruals.

By raising fresh institutional capital while simultaneously reducing debt, PC Jeweller aims to improve its financial flexibility and accelerate expansion. Investors will now closely watch the company’s execution of the QIP and its progress in achieving a debt-free balance sheet, both of which could play a key role in shaping its long-term growth prospects.

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