PC Jeweller to discuss QIP on July 16 for expansion
Business
PC Jeweller is set to meet on July 16 to talk about raising funds through a Qualified Institutions Placement (QIP).
The money is aimed at fueling business growth, expansion, and covering capital needs.
The company shared this update in an exchange filing today.
PC Jeweller cleared dues with banks
Right after the news broke, PC Jeweller's shares nudged up to ₹9.93 on the National Stock Exchange, just above Monday's close.
The company says it is committed to becoming debt-free this quarter and has already cleared dues with two consortium banks.
Once debts are settled, the QIP funds will go straight into supporting its growth plans.