PC Jeweller's board has approved a proposal to raise up to ₹1,000 crore through a Qualified Institutions Placement (QIP) in one or more tranches, subject to shareholder and regulatory approvals. The board has also approved a proposal to increase the company's authorised share capital from ₹1,310 crore to ₹1,460 crore by creating an additional 150 crore equity shares with a face value of ₹1 each. This increase will require shareholder approval and an amendment to the Capital Clause of the company's Memorandum of Association. Additionally, the company announced that it reduced its outstanding debt by a further 24% during the quarter, taking its total debt reduction to more than 90% since signing a joint settlement agreement with lenders in September 2024. PC Jeweller expects to become debt-free during the current quarter, a milestone that is expected to strengthen its balance sheet, lower interest costs, and enhance its financial flexibility.

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