PC Jeweller shares gained in the morning trade on November 29 after the retail jeweller fixed December 16 as the record date for 1:10 stock split.
The stock was trading at Rs 162.60 per share on the NSE, up 4.08 percent at around 9:30 am, from its previous close of Rs 156.23 apiece.
The company in an exchange filing on November 29 said, "Board of Directors of the Company fixed Record Date for the purpose of sub-division / split of equity shares of the Company, such that 1 (One) equity share having face value of ₹ 10 (Rupees Ten Only) each, fully paid-up, be sub-divided / split into 10 (Ten) equity shares having face value of ₹ 1 (Rupee One Only) each."
After the announcement each equity share with a face value of Rs 10 each will be split into 10 equity shares with a face value of Re 1, it said.
Earlier, in July this year the company announced to raise up to Rs 2,705 crore by issuing warrants on a preferential basis to promoters and investors, mainly to settle bank loans and for working capital requirements.
Promoters will infuse around Rs 850 crore into the company by subscribing to warrants issued by the company.
In a regulatory filing, the company informed that its board approved the proposal to raise funds up to Rs 2,705.14 crore by preferential issue of fully convertible warrants.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
