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PC Jeweller gets board's approval to raise Rs 2,000cr. fund via rights issue, convertible warrants

PC Jeweller board has approved a proposal to raise Rs 2,000cr fund via rights issue, convertible warrants

Board also approved proposal to increase the authorised share capital and alteration in the capital clause of the memorandum of association, a regulatory filing said.

Board approved the plan to raise Rs 1,500 crore by way of rights issue of equity shares of Rs 10 per each to the eligible equity shareholders.

That apart, the company said the board approved raising up to Rs 500 crore through a preferential allotment of fully convertible warrants.

The proceeds of the preferential issue will be utilised towards the payment of financial liabilities of the company, subject to the approval of the consortium of the lenders," the company said.

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