Jammu & Kashmir Bank Ltd's Board Meeting to consider raising of Equity and Debt Capital

A meeting of the Board of Directors of Jammu & Kashmir Bank Ltd has been scheduled for Saturday, 15th April 2017 to consider Preferential issue of equity shares for an amount of Rs.282 crore, to the Government of Jammu & Kashmir, the promoter and majority shareholder of the Bank.

The Board will also consider raising of funds through allotment of unsecured, redeemable, subordinated, non convertible, BASEL III Compliant Tier 2 Bonds in the nature of Debentures/Bonds aggregating to Rs. 1000 Crore.

Shares of JAMMU & KASHMIR BANK LTD. was last trading in BSE at Rs.79.85 as compared to the previous close of Rs. 80.15. The total number of shares traded during the day was 99605 in over 790 trades.

The stock hit an intraday high of Rs. 81.75 and intraday low of 79.55. The net turnover during the day was Rs. 8025905.

Source : Equity Bulls

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