Shares of PC Jeweller climbed 11 per cent in Wednesday’s trade after the jewellery maker settled a case with Sebi regarding alleged non-disclosure of certain information about a share buyback offer that was withdrawn later. The company paid Rs 19,12,500 towards full and final settlement of the alleged default, according to an order. The matter pertains to the company's buyback offer that was approved by its board on May 10, 2018.

The proposal was objected by State Bank of India later through two separate letters issued in July, due to which the offer was withdrawn on July 13.That said, PC Jeweller failed to disclose SBI objections raised through letters dated July 7 and 12. "Sebi has found that non-disclosure of SBI's objections by PC Jeweller is material information and required to be disclosed to the stock exchanges...," the order said. Adjudication proceedings were initiated and a show-cause notice was issued to the company on March 6. On April 5, the firm filed a settlement application, which was later accepted.