Apollo Micro Systems Shares Soar on Indian Army Order: Hits 5% Upper Circuit

PC Jeweller shares have been climbing steadily since early July 2024. The stock, often called a ‘multibagger’ due to its high growth potential, started the month at ₹51 per share and has been rising ever since. Today, the share price opened higher at ₹74 and reached an intraday high of ₹72.80 on NSE, marking a 4.50 percent increase and setting a new peak.

Significant Fundraise Announcement

PC Jeweller made headlines over the weekend after announcing a major fundraise of around ₹2,705 crore through the issuance of new shares. This move, aimed at boosting the company’s financial health and supporting growth plans, was shared with the stock exchanges on Saturday.

Details of the Fundraise

The company informed the exchanges that it would issue up to 48,13,42,500 fully convertible warrants. Each warrant, priced at ₹56.20, allows the holder to subscribe to one equity share of ₹10 each. These warrants will be issued on a preferential basis to both the Promoter Group and non-promoter public investors. The total amount to be raised is ₹2,705 crore, subject to approval from members and regulatory bodies.

Previous Board Decisions

This decision updates an earlier plan from April 16, 2024, which involved issuing warrants to a single Promoter Group entity. The new plan includes additional allottees and a revised issue size.

PC Jeweller Share Price History

Over the past month, PC Jeweller’s share price has risen by over 25 percent. Year-to-date, the stock has increased by over 40 percent. In the past year, the share price has grown from ₹32.35 to ₹72.80, representing a 125 percent rise.