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Jammu & Kashmir Bank gains on getting nod to raise up to Rs 2,000 crore through equity, debt

03 Sep 2021 Evaluate

The Jammu & Kashmir Bank is currently trading at Rs. 37.15, up by 0.40 points or 1.09% from its previous closing of Rs. 36.75 on the BSE.

The scrip opened at Rs. 37.85 and has touched a high and low of Rs. 37.95 and Rs. 37.10 respectively. So far 408872 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 44.35 on 22-Jun-2021 and a 52 week low of Rs. 14.10 on 30-Oct-2020.

Last one week high and low of the scrip stood at Rs. 38.40 and Rs. 35.05 respectively. The current market cap of the company is Rs. 2661.17 crore.

The promoters holding in the company stood at 68.18%, while Institutions and Non-Institutions held 2.01% and 29.81% respectively.

Jammu & Kashmir Bank has received approval to raise up to Rs 2,000 crore through a mix of equity and debt. The board at its meeting on September 2, 2021, approved the plan to raise equity and debt capital up to Rs 1,000 crore each. The board has approved raising of equity capital up to Rs 1,000 crore in one or more tranches by way of rights issue/preferential allotment/private placement or qualified institutional placement (QIP) or any other approved mode.

Also, it approved to raise up to Rs 1,000 crore by issuing Basel III compliant tier II bonds in the nature of non-convertible debentures on a private placement basis.

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.

J&K Bank Share Price

131.20 -1.20 (-0.91%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
HDFC Bank 799.90
ICICI Bank 1347.50
Axis Bank 1359.15
Kotak Mahindra Bank 383.50
Indusind Bank 853.15
View more..

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