Jammu & Kashmir Bank gains on getting nod to raise upto Rs 750 crore through various modes
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Jammu & Kashmir Bank is currently trading at Rs. 71.44, up by 1.32 points or 1.88% from its previous closing of Rs. 70.12 on the BSE.
The scrip opened at Rs. 70.83 and has touched a high and low of Rs. 71.91 and Rs. 70.30 respectively. So far 129598 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 74.15 on 12-Jul-2023 and a 52 week low of Rs. 26.25 on 15-Jul-2022.
Last one week high and low of the scrip stood at Rs. 74.15 and Rs. 67.85 respectively. The current market cap of the company is Rs. 7354.45 crore.
The promoters holding in the company stood at 63.41%, while Institutions and Non-Institutions held 4.62% and 31.97% respectively.
Jammu & Kashmir Bank has received approval for raising of equity share capital upto Rs 750 crore in one or more tranches by way of Rights Issue/ Preferential Allotment/Private Placement/Qualified Institutional Placement (QIP)/Follow on Public Offer (FPO) or any other approved route preferably during the second half of the Financial Year 2023-24 and raising of capital upto Rs 1000 crore by way of Non-Convertible, Redeemable, Unsecured, BASEL III Compliant, TIER 2 bonds in the nature of debentures (debentures) on a private placement basis preferably towards end of the Calendar Year 2023.
Jammu & Kashmir Bank is engaged in the banking business. The company offers a range of products and services, such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking.
