Mumbai (Maharashtra) [India], February 24: PC Jeweller Limited has announced the incorporation of a new step-down subsidiary, PCJ Mining SARL, through its wholly owned subsidiary PCJ Gems & Jewellery Limited, marking a strategic move to expand its presence in the precious metals value chain. The development was disclosed to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
PCJ Mining SARL has been incorporated in the Republic of Chad and will operate in the extraction of precious metal ores. Its business scope includes mining, mineral exploration and quarrying, as well as the production, refining, and marketing of mineral products, alongside general import–export trade and related services. PCJ Gems & Jewellery Limited holds a 66 percent stake in the newly formed entity. The company clarified that the incorporation does not constitute a related party transaction and that no promoter or promoter group entities have any interest in the subsidiary.
The new subsidiary has an initial paid-up share capital of 10,00,000 CFA francs and is yet to commence operations. As it is a newly established entity, it currently has no turnover history. The company further stated that no governmental or regulatory approvals were required for the incorporation, underscoring a streamlined setup process.
This strategic step is expected to strengthen PC Jeweller's upstream integration capabilities and position the company to tap opportunities in the global precious metals segment, reinforcing its long-term growth and diversification strategy.
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