Description

PC Jeweller Limited lists 34.68 crore new equity shares on BSE from November 17, 2025, issued through preferential allotment pursuant to warrant conversion with lock-in periods extending to May 2027.

Summary

PC Jeweller Limited (Scrip Code: 534809) has listed 34,67,82,850 new equity shares of Re. 1/- each on BSE, issued at a premium of Rs. 4.62/- through preferential allotment to promoters and non-promoters pursuant to warrant conversion. The shares will commence trading from Monday, November 17, 2025, and rank pari-passu with existing equity shares.

Key Points

  • Total new shares listed: 34,67,82,850 equity shares of Re. 1/- each
  • Issue price: Rs. 5.62/- per share (Re. 1/- face value + Rs. 4.62/- premium)
  • Allotment basis: Preferential allotment pursuant to warrant conversion
  • Allotment to: Promoter and Non-Promoter categories
  • Date of allotment: July 25, 2025
  • Trading commencement: November 17, 2025
  • Distinctive numbers: 6575376501 to 6922159350
  • ISIN: INE785M01021
  • Ranking: Pari-passu with existing equity shares

Regulatory Changes

No regulatory changes introduced. This is a standard listing notification for new securities issued through preferential allotment mechanism.

Compliance Requirements

Lock-in Obligations:

  • 9,01,54,400 shares (Dist. Nos. 6575376501 to 6665530900) are locked-in until May 20, 2026
  • 25,66,28,450 shares (Dist. Nos. 6665530901 to 6922159350) are locked-in until May 20, 2027

Trading Members:

  • Must update their systems to reflect the new securities available for trading from November 17, 2025
  • Must ensure compliance with lock-in restrictions for respective tranches

Important Dates

  • July 25, 2025: Date of allotment
  • November 14, 2025: Notice date
  • November 17, 2025: Trading commencement date
  • May 20, 2026: Lock-in expiry for first tranche (9.02 crore shares)
  • May 20, 2027: Lock-in expiry for second tranche (25.66 crore shares)

Impact Assessment

Market Impact:

  • Significant dilution with 34.68 crore new shares representing substantial increase in equity base
  • Staggered lock-in periods (until 2026 and 2027) will moderate immediate selling pressure
  • Only shares not subject to lock-in can be freely traded initially

Shareholder Impact:

  • Existing shareholders face dilution from this preferential allotment
  • Promoter and non-promoter participation indicates mixed allocation
  • Long lock-in periods suggest confidence in company’s long-term prospects

Liquidity Impact:

  • Increased float will enhance liquidity post lock-in expiry
  • Near-term trading limited to non-locked-in portions
  • Price discovery may be affected by the substantial increase in share capital

Impact Justification

Significant dilution of 34.68 crore shares through preferential allotment with extended lock-in periods indicates material corporate action affecting existing shareholders