PC Jeweller to raise up to Rs 427 crore from DVI Fund Mauritius

To expand its business, PC Jeweller Ltd has decided to raise up to Rs 427 crore from DVI Fund Mauritius through debentures.
The proceeds will be utilised as capital expenditure for future expansion. The company has been adding 15-20 stores every fiscal and is also planning to set up new manufacturing faculties. The company currently has three factories and 60 retail stores across the country.
The US-based DVI Mauritius is the existing investor and has around 4 per cent stake in the company.
In February, PC Jeweller had acquired premium bridal gold jewellery brand AZVA from the World Gold Council (WGC) for an undisclosed amount.