PC Jeweller shares jumped around 6% on Monday, nearly wiping off all losses recorded in the previous session after the company announced that its board of directors approved a plan to raise Rs 1,000 crore through Qualified Institutions Placement (QIP).
The shares rose to Rs 10.27 apiece on Monday morning, before paring some gains. The stock had crashed more than 6% on Friday after the company announced that its board considered and approved raising up to Rs 1,000 crore through the issuance of equity shares with a face value of Rs 1 each and other eligible securities, or any combination thereof, through QIP in one or more tranches.
