Comments
The Jammu and Kashmir Bank said it had received application forms for an aggregate of 6,97,02,602 fully paid-up equity shares of the Bank under its qualified institutions placement (QIP) issue at Rs 107.60 per equity share, aggregating ₹750 crore.
The Capital Issuance Committee of the Board of Directors of the Bank approved the closure of the QIP on December 14, 2023. The issue opened on December 11, 2023.
The Committee determined and approved the Issue Price of ₹107.60 per Equity Share (including a premium of ₹106.60 to the face value of Re.1 per Equity Share), which is at a discount of 4.49 per cent (i.e. ₹5.06 per Equity Share), to the Floor Price of ₹112.66 per Equity Share.
The Committee approved the Confirmation of Allocation Note to the Qualified Institutional Buyers, intimating them of allocation of Equity Shares pursuant to the QIP.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.