Jewellery stock under Rs 15 in focus as Board allots 10,72,37,000 equity shares on conversion of fully convertible warrants!

PC Jeweller Ltd approved the allotment of 10,72,37,000 equity shares (face value ₹1 each) following the conversion of 1,07,23,700 fully convertible warrants by two non-promoter public entities, Unico Global Opportunities Fund Limited and Maukunti Pujara. This conversion followed the receipt of the remaining 75 per cent subscription amount, totalling approximately Rs 45.20 crore. Notably, the share count and pricing were adjusted to account for the company's 1-to-10 stock split executed in December 2024. Consequently, the company’s total paid-up equity share capital has increased from Rs 790.95 crore to Rs 801.68 crore, with the public shareholding marginally increasing to 59.61 per cent.

The company has also strategically expanded its international footprint by incorporating PCJ Mining SARL in the Republic of Chad through its wholly-owned subsidiary, PCJ Gems & Jewellery Limited, which holds a 66 per cent controlling stake. With a paid-up capital of 10,00,000 CFA Francs, this new entity marks a significant move into the upstream supply chain, focusing on the exploration, extraction, and refining of precious metal ores. By venturing into mining and mineral services, PC Jeweller aims to diversify its operations beyond retail, directly managing the sourcing and marketing of raw materials to secure its long-term production capabilities.

About the Company

PC Jeweller Ltd is a prominent Indian jewellery retailer known for its wide range of gold, diamond and silver products. Established in 2005, the company specialises in both traditional and contemporary designs, catering to weddings as well as daily wear. It operates through a large network of showrooms across India and an online platform, offering hallmarked and certified jewellery. The brand emphasises craftsmanship and transparency, providing services like jewellery maintenance and customisation to its customers.

The company has a market cap of over Rs 7,300 crore. As of December 2025, State Bank of India (SBI) holds a 1.75 per cent stake and the Union Bank of India owns a 1.13 per cent stake in the company. The stock is up by 17 per cent from its 52-week low of Rs 8.66 per share and has given multibagger returns of 310 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.