PC Jeweller Limited updates on debt reduction

In line with the Company's objective of achieving a debt-free status, PC Jeweller Limited has successfully reduced its outstanding debt that was payable to the banks under the terms of Joint Settlement Agreement, by another approximately 14%.

With this reduction, the Company has discharged and repaid majority of its outstanding debt that was due to the banks, validating a significant and rapid progress towards its financial goal of accomplishing a debt-free status in near future.

The current reduction of debt was done by the Company through balance consideration received on account of conversion of Fully Convertible Warrants into equity shares by both, Promoter Group and Non-Promoter, Public entities.

Source : Equity Bulls

Keywords

PCJeweller DebtReduction