Multibagger Stock PC Jeweller Announces 1:10 Stock Split – Boosting Liquidity for Retail Investors
PC Jeweller Ltd. has announced a 1:10 stock split, a move approved by its board of directors on September 30, 2024. This stock split aims to improve liquidity and make the shares more affordable for small investors. Each fully paid equity share with a face value of ₹10 will now be divided into 10 shares, each worth ₹1. As a result, the total number of shares will increase from 46.5 crore to 465.4 crore.
In an official statement, PC Jeweller said, “A meeting of the Board of Directors was held on Monday, September 30, 2024, to consider and approve the stock split. The company will make necessary changes in its share capital and update its Memorandum of Association accordingly.”
PC Jeweller Share Price Performance
PC Jeweller’s stock has seen significant growth over the past year, increasing by 563.12%. In 2024 alone, the stock has gained 246.4%. It has also delivered impressive returns of 241.6% in the past three months and 225% in the last six months. As of September 30, the stock was trading at its highest level since May 2018. Its all-time high was ₹600.65 on January 16, 2018.
On September 30, PC Jeweller shares reached a multi-year high, hitting the 5% upper circuit at ₹177.95 during the day’s trading on the BSE, supported by strong trading volumes. The company’s market capitalisation now stands at ₹8,292.10 crore, according to NSE data. In September alone, the stock surged by 60%.
Preferential Allotment for Promoters
The board also approved the issuance of 11.5 crore fully convertible warrants on a private placement basis to two promoter group entities—New Track Garments Pvt. Ltd. and Balram Garg (HUF). These warrants are priced at ₹56.20 per warrant and will raise ₹646 crore. The promoters have already paid 25% of the subscription upfront, and the remaining 75% must be paid within 18 months for full conversion into equity shares.
This move reflects the company’s strategy to increase shareholder value and strengthen its financial position.
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