Halwasiya invested ₹175 crore into PC Jeweller through two equity transactions. He bought 10.61 crore shares in total, following an earlier purchase on October 15. The company showed improved profits of ₹331 crore in the September quarter. Now debt-free, the firm plans to open 100 new showrooms across many cities.
This marks his second significant investment in the jewellery company within a short period.
The latest acquisition follows his earlier purchase of 5.10 crore shares of PC Jeweller on October 15 at ₹14.43 per share, involving an investment of about ₹74 crore.
With the latest transaction, Halwasiya has acquired an aggregate of 10.61 crore shares through the two purchases, with a combined investment of about ₹175 crore.
The repeated investment comes at a time when PC Jeweller reported improved profitability, a debt-free balance sheet and a renewed focus on business expansion.
Its net profit in September quarter increased 58 per cent to ₹331 crore (₹210 crore) and sales increased by 28 per cent to ₹1,054 crore.
PC Jeweller recently turned out to be debt-free status after clearing the entire outstanding debt of its 14 consortium banks, with the company carrying zero bank borrowings.
The company also received about ₹142 crore from export debtors during Q2 FY27, marking the commencement of realisation of its long-pending export receivables.
The company plans to establish up to 100 large-format showrooms across cities over the next 12–18 months, through a mix of company-owned and asset-light franchise outlets.
The company has also entered into strategic arrangements with the National Skill Development Corporation and the Government of Uttar Pradesh under the CM YUVA scheme to develop a wider micro-franchise network, aimed at expanding the PC Jeweller brand into rural and semi-urban markets.
In addition, PC Jeweller is working on a new jewellery brand focused on demi-fine, lightweight and lab-grown diamond jewellery for younger and self-purchasing consumers. Its step-down subsidiary, PCJ Mining SARL, has also commenced on-site development activities for its gold mining project in the Republic of Chad, providing a potential avenue for backward integration into gold sourcing.