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PC Jeweller Ltd has raised Rs 427 crore from DVI Fund Mauritius through allotting it compulsorily convertible debentures and the amount will be used for business expansion.
PC Jeweller has informed in a BSE filing that “the board of directors of the company in its meeting allotted 42,69,984 compulsory convertible debentures having face value of Rs 1,000 to DVI Fund (Mauritius) Ltd for an aggregate amount of Rs 426,99,84,000.”
The conversion rate is fixed at Rs 380.
The board, during last month, 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.
