PC Jeweller‘s board has authorized a proposal to generate Rs 2,000 crore capital through rights offering and convertible warrants.
The board also approved a request to enhance the authorized share capital and change the capital provision of the memorandum of association, according to a regulatory filing.
The Board authorized the intention to raise Rs 1,500 crore through a rights issue of equity shares at Rs 10 each to qualifying equity shareholders.
Apart from that, the business stated that the board approved funding up to Rs 500 crore through a preferential offering of fully convertible warrants.
“The proceeds of the preferential issue will be used to pay the company’s financial liabilities, subject to the approval of the lender consortium,” the company stated.