PC Jeweller shares gained 2% on Tuesday as investors reacted to the company's announcement that its board of directors will convene on July 16 to consider a qualified institutional placement (QIP).
The proposed capital raise is intended to fund business growth, support strategic initiatives, and complete outstanding debt repayments.
The board meeting will also address the appointment of necessary personnel to facilitate the process.
The market's positive response follows a period of volatility for the stock, which had previously surged 6% in early trade on Wednesday after the company announced it had repaid all outstanding debt under a settlement agreement.
That earlier rally bucked a broader sell-off in Indian equities, signaling investor confidence in the retailer's turnaround efforts.
The current QIP proposal represents the next step in consolidating the company's balance sheet and financing future expansion.