Jammu & Kashmir Bank zooms on launching QIP
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The Jammu & Kashmir Bank is currently trading at Rs. 133.90, up by 8.80 points or 7.03% from its previous closing of Rs. 125.10 on the BSE.
The scrip opened at Rs. 126.85 and has touched a high and low of Rs. 139.95 and Rs. 125.95 respectively. So far 1904083 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 139.95 on 12-Dec-2023 and a 52 week low of Rs. 44.59 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 139.95 and Rs. 112.00 respectively. The current market cap of the company is Rs. 13904.35 crore.
The promoters holding in the company stood at 63.41%, while Institutions and Non-Institutions held 7.53% and 29.06% respectively.
Jammu & Kashmir Bank has launched its qualified institutional placement (QIP) on December 11. The Capital Issuance Committee of Board of the Bank has approved the floor price of Rs 112.66 per equity share for the QIP.
Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and through special resolution passed by the shareholders of the Bank in the annual general meeting held on August 24, 2023, the Bank may at its discretion offer a discount of not more than 5% on the floor price so calculated for the QIP. The Issue price will be determined by the Bank in consultation with the book running lead managers appointed for the QIP.
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.
