PC Jeweller settles with lenders, offers Rs 2,250 cr

PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents a 20% haircut to lenders' principal amount and 64% recovery of total dues, including interest of ₹3,500 crore.