PC Jeweller Ltd. (BSE: 534809, NSE: PCJEWELLER), one of the leading and fastest-growing jewellery retail chains in India, has announced that its board has approved the sub-division / split of existing equity shares in the ratio of 1:10, sub division of 1 share in to 10 shares. Members’ approval for proposed sub-division / split of each equity share and consequent
alteration of Capital Clause of Memorandum of Association of the Company will be taken through Postal Ballot.
Further, Pursuant to the approval of Members in the Extra-Ordinary General Meeting held on August 8, 2024 and ‘In Principle Approvals’ received from BSE Limited and National Stock Exchange of India Limited, allotment of 11.50 Cr Fully Convertible Warrants by way of preferential allotment on private placement basis to two of the Proposed Allottees belonging to Promoter Group category.
Recently, the company announced that Bank of India has conveyed its approval to the One Time Settlement (“OTS”) proposal submitted by the Company. The Company had opted for OTS to settle the outstanding dues. The terms and conditions of approved OTS include cash and equity components payable under settlement, release of securities and mortgaged properties etc. With this approval, all the fourteen consortium member banks have approved the OTS proposal submitted earlier by the Company.