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Jammu & Kashmir Bank informs about outcome of board meeting

15 Dec 2023 Evaluate
Jammu & Kashmir Bank has informed that in respect of the QIP, the Capital Issuance Committee ‘Committee’ of the Board of Directors of the Bank has, at its meeting held today, December 15, 2023, approved the allotment of 6,97,02,602 Equity Shares to eligible qualified institutional buyers at the issue price of ? 107.60 per Equity Share, aggregating to ?750 crores (Rupees Seven Hundred and Fifty Crore Only) under the SEBI ICDR Regulations. The issue opened on December 11, 2023 and closed on December 14, 2023 and the same was intimated to you through our letters JKB/BS/F3652/2023/556 and JKB/BS/F3652/2023/560 dated December 11, 2023 and December 14, 2023 respectively. Further attached the list of allottees who have been allotted more than five percent (5%) of the Equity Shares offered in the QIP, marked as Annexure A. Pursuant to the allotment of Equity Shares in the QIP, the paid- up equity share capital of the Bank stands increased by ?6.97 crores comprising of 6,97,02,602 equity shares of face value of Re 1 each. The meeting of the Committee commenced at 10:00 hours and concluded at 10:30 hours.

The above information is a part of company’s filings submitted to BSE.
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