PC Jeweller hits 5% upper circuit on 1:10 stock split and fundraising plan

This means the company will split one existing fully paid-up equity share, having a face value of ₹10 each, into 10 shares having a face value of ₹1, according to an exchange filing. This stock split will lead to the rise of the total number of shares from over 46.5 crore to 465.4 crore, as per news reports. 

This move is subject to approval from the company’s shareholders and is expected to be completed within 45 days following the necessary approvals.

Besides, the New Delhi-based jewellery company said it would raise a total of ₹646 crore within 18 months through the issuance of 11.5 crore fully convertible warrants. The warrants will be priced at ₹56.20 per unit, with an upfront subscription of ₹161.6 crore, representing 25% of the total warrant price at ₹14.05 per warrant. 

Shares of PC Jeweller have jumped nearly 22% in the past one week. In comparison, the benchmark S&P BSE SENSEX has slipped 0.82%. 

PC Jeweller Q1 FY25 Results

PC Jeweller reported a consolidated net profit of ₹156.06 crore for the quarter ended June 2024 (Q1 FY25) on higher income.

The company had posted a net loss of ₹171.62 crore in the year-ago period.

Total income jumped more than five times to ₹439.78 crore during the April-June period of this fiscal from ₹72.61 crore in the corresponding period of the previous year, according to a regulatory filing.

"The Q1 FY2025 has been a turnaround quarter for the company. The company has started regaining its customer trust and goodwill, which has resulted in exponential growth in its topline and profitability," PC Jeweller said in an investor presentation.