Meanwhile, the BSE Sensex was up 25.47 points or 0.13% at 19,442.93.
On BSE, 1.21 crore shares changed hands in the counter.
The stock hit a high of Rs 147.50 and a low of Rs 135.50 so far during the day.
PC Jeweller had priced its initial public offer (IPO) at the top end of the Rs 125-135 per share IPO price band. The issue closed on 12 December 2012. The company had offered a discount of Rs 5 per share to retail investors. The company's IPO was subscribed 6.85 times.
The proceeds from the IPO will be used to expand the company's showroom network across India, including in southern and western parts of India. It intends to open an additional 20 showrooms by FY 2014, all of which are to be financed through the net proceeds of the IPO. All of the proposed showrooms are intended to be large-format showrooms. The company's retail network expansion plans are aimed at not only increasing sales volumes, but also enabling to consolidate its position as a leading Indian jewellery retailer in the organized jewellery retail sector, by increasing its brand visibility, geographical presence and market share.
PC Jeweller reported consolidated net profit of Rs 141.66 crore on net sales of Rs 1855.70 crore for the half year ended 30 September 2012. The operating profit margin stood at 12.6%.
PC Jeweller, promoted by Padam Chand Gupta and Balram Garg, is one of the leading jewellery companies in India in the organized jewellery retail sector. The company's operation includes manufacturing, retail and export of jewellery. It offers gold jewellery, diamond jewellery and other jewellery including silver articles, with a focus on diamond jewellery and jewellery for weddings. As of September 30, 2012, the company had 30 showrooms under the "PC Jeweller" brand located across 23 cities in north and central India with an aggregate area of approximately 1,64,572 sq.ft. All of these showrooms are operated and managed by the company, with the exception of Chandigarh showroom, which is operated and managed by a third party. The company has developed a strong brand in markets of north and central India. It also sells gold and diamond jewellery through online sales. It also exports gold and diamond jewellery on a wholesale basis to international distributors in Dubai and Hong Kong.
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