PC Jeweller Ltd has said its board has approved allotment of 51.71 crore shares to a consortium of lenders, comprising 14 banks, through a preferential issue to settle ₹1,510 crore debt. The shares have been issued at ₹29.20 per share. State Bank of India was allotted 176 million shares, the highest number of shares among lenders' consortiums, Business Standard reported.