PC Jeweller Looking to Raise Up to Rs 427 Cr
PC Jeweller Ltd will raise up to Rs 427 crore from DVI Fund Mauritius through debentures for expansion of its business.
"The board of Directors of the company at its meeting held on April 6 has approved the issue of compulsorily convertible debentures for an aggregate amount of up to Rs 427 crore by way of a preferential allotment on private placement basis to DVI Fund Mauritius Ltd subject to necessary approvals in this regard," PC Jeweller said in a regulatory filing today.
The company currently has three factories and 60 retail stores across the country.
Garg said the company is adding 15-20 stores every fiscal and is exploring to set up new manufacturing facilities.
"The US-based DVI Mauritius is our existing investor and has around 4 per cent stake in the company." Garg sa...