Multibagger jewellery stock PC Jeweller share price rises on allotment of 6.85 crore shares; check details

Multibagger jewellery stock PC Jeweller rose 1% on Friday, January 23, after the jewellery retailer informed stock exchanges that it has successfully completed the allotment of 6.85 crore equity shares through the conversion of fully convertible warrants.

The move marks a significant step in the company’s capital-raising journey and has resulted in a corresponding increase in its paid-up equity share capital.

The company’s Board approved the allotment through a circular on January 22, 2026. This development follows earlier disclosures made on September 30, 2024 and October 11, 2024, when the company had announced the preferential allotment of 48,08,02,500 fully convertible warrants to investors belonging to both the promoter group and the non-promoter public category.

Capital structure expands after warrant conversion

The latest allotment involved the conversion of 68,55,000 warrants into 6,85,50,000 equity shares by six non-promoter public category allottees. Through this conversion, PC Jeweller raised ₹28,89,38,250, with investors paying ₹42.15 per warrant, which represents 75% of the issue price.

Each newly allotted equity share carries a face value of ₹1 and ranks pari-passu with existing equity shares, meaning the new shares enjoy the same rights as those already held by shareholders.

The conversion figures were adjusted to reflect the company’s earlier sub-division of equity shares, under which the face value was split from ₹10 per share to ₹1 per share, effective December 16, 2024.

Following this allotment, PC Jeweller’s paid-up equity share capital increased from ₹732,84,94,855, comprising 732,84,94,855 equity shares, to ₹739,70,44,855, comprising 739,70,44,855 equity shares, each with a face value of ₹1.

In terms of ownership, the promoter and promoter group’s holding remained unchanged in absolute numbers at 272,56,79,480 shares, though their percentage stake declined marginally from 37.19% to 36.85%. The public shareholding increased from 62.81% to 63.15%, following the allotment of 6,85,50,000 shares to public investors.

PC Jeweller Q3 update

Operationally, PC Jeweller reported a 37% growth in standalone revenue for the December quarter of FY26, supported by strong consumer demand during the festival and wedding season.

During the quarter, PC Jeweller moved to strengthen its expansion strategy by submitting a proposal to the Directorate of Industries and Enterprises Promotion, Government of Uttar Pradesh, under the Chief Minister — Yuva Udyami Vikas Abhiyan (CM-YUVA) scheme. The initiative is designed to empower trained goldsmith entrepreneurs in rural and semi-urban regions by enabling them to set up 1,000 jewellery retail franchise outlets under the PC Jeweller brand.

The company said the proposal has already cleared an important milestone, having received approval for onboarding as an official franchise brand on the CM-YUVA portal. In addition, PC Jeweller has signed a memorandum of understanding with the CM-YUVA Mission, which operates under the Department of MSME and Export Promotion, Government of Uttar Pradesh, further formalising the collaboration.

On the financial front, PC Jeweller reiterated its stated goal of achieving a debt-free balance sheet in the near future. The company highlighted that since entering into a settlement agreement with banks on September 30, 2024, it has managed to cut its outstanding debt by around 68%, as disclosed in regulatory filings. Management said it remains focused on expanding the retail network, reducing debt further, and delivering steady operating performance over the coming quarters.

PC Jeweller share performance

PC Jeweller share price rose 1% to its day's high of ₹10.78 on Friday after the development. The stock has faced pressure in the medium term, declining 26% over the past one year, 30% in the last six months, and 11% in the last three months. However, the jewellery stock has shown short-term recovery, gaining 11% in the past one month.

Over the long term, the stock remains a strong performer. PC Jeweller has delivered over 11% positive returns in the longer horizon and has emerged as a multibagger, soaring more than 310% over the past five years.

The stock touched a 52-week high of ₹19.65 in July 2025 and a 52-week low of ₹8.66 in December 2025.

Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions.