Jammu and Kashmir (J&K) Bank is looking to raise up to Rs 4,500 crore through equities and debt. The bank will augment the capital base by raising common equity issue of additional tier-1 bonds or issue of tier-2 bonds and through internal profit accruals. The bank will seek shareholders' approval for the fund raise proposal in its annual general meeting to be held on September 28, 2020.
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.
