The PC Jeweler Board will pay Rs. 1,510 crore has allowed 14 banks to allocate 51.7 crore shares for settlement

PC Jeweler Limited said on Monday that its board had paid Rs. The preferential issue has allowed the allocation of 51.71 crore shares to the lender’s consortium to settle the debt of Rs 1,510 crore. In the regulatory filing, PC Jeweler Limited said that the director board of the company has approved the allocation of 51,71,14,620 equity shares through the route of preferential allocation to the consortium of 14 banks’ consortium.

It has been issued at Rs 29.20 per share.

Shares will be issued on September 30, 2024 on the basis of a joint settlement agreement to settle their outstanding debt, which entered the company and consortium lender.

The new equity shares allotted to the consortium lender will rank the fairy-pasu with the current equity shares of the company.

PC Zaveri chose OTS (one-time settlement) for its outstanding dues with bank consortium.

The terms and conditions of valid OTS include cash and equity components, the release of securities and mortgage properties, etc.

PC Jeweler Limited has spent Rs. A unified net profit of Rs 147.96 crore was registered. The company reported a net loss of Rs 197.98 crore for the year ago.

In the third quarter of this financial year, the total revenue multi-fold was Rs. 683.44 crore, which is Rs 43.48 crore in the previous period.

In 41 cities of 15 states of India, PC Zaveri has 55 showrooms (including 3 franchise showrooms).