Description
PC Jeweller Limited lists 346,782,850 equity shares issued on preferential basis pursuant to warrant conversion, effective November 17, 2025.
Summary
BSE has approved the listing of 346,782,850 new equity shares of PC Jeweller Limited (Scrip Code: 534809) issued on preferential basis to Promoter and Non-Promoter categories pursuant to conversion of warrants. The shares will commence trading from November 17, 2025, and rank pari-passu with existing equity shares.
Key Points
- Total New Shares: 346,782,850 equity shares of Re. 1/- each
- Issue Price: Rs. 5.62/- per share (Re. 1/- face value + Rs. 4.62/- premium)
- Allotment Date: July 25, 2025
- Trading Start Date: November 17, 2025
- Distinctive Numbers: 6575376501 to 6922159350
- ISIN: INE785M01021
- Nature: Preferential allotment pursuant to warrant conversion
- Ranking: Pari-passu with existing equity shares
Lock-in Details
Significant portion of shares subject to lock-in restrictions:
| Number of Shares | Distinctive Numbers | Lock-in Period Expires |
|---|---|---|
| 90,154,400 | 6575376501 to 6665530900 | May 20, 2026 |
| 256,628,450 | 6665530901 to 6922159350 | May 20, 2027 |
Total Locked-in Shares: 346,782,850 (100% of allotment)
Compliance Requirements
- Trading members must update their systems to reflect the increased share capital
- Market participants should note the lock-in restrictions when assessing liquidity
- Corporate actions and shareholding pattern disclosures will reflect the new equity structure
Important Dates
- Allotment Date: July 25, 2025
- Trading Commencement: November 17, 2025
- First Lock-in Expiry: May 20, 2026 (90.15 million shares)
- Second Lock-in Expiry: May 20, 2027 (256.63 million shares)
Impact Assessment
Shareholding Impact: The allotment of 346.78 crore shares represents significant equity dilution. The exact dilution percentage depends on pre-allotment share capital, but the scale suggests substantial expansion of equity base.
Liquidity Impact: While trading begins November 17, 2025, entire allotment is locked-in, limiting immediate float. Only 26% of shares become tradeable by May 2026, with remaining 74% locked until May 2027.
Market Sentiment: Preferential allotment to both Promoter and Non-Promoter categories at Rs. 5.62/- indicates fundraising activity. Long lock-in periods suggest strategic investor participation and promoter commitment.
Trading Considerations: Market participants should monitor price movements given the significant increase in total share count and phased unlock of shares over 2-year period.
Impact Justification
Substantial dilution with 346.78 crore shares representing significant equity expansion. Lock-in periods indicate promoter/strategic investor participation. High impact on shareholding pattern and trading volumes.