Jammu and Kashmir Bank's Bold Move: Raising Rs 1,250 Crore for Future Growth
Jammu and Kashmir Bank is set to strengthen its financial standing and future growth prospects by raising Rs 1,250 crore. The planned capital infusion includes Rs 750 crore through equity share capital via Qualified Institutional Placement and Rs 500 crore through Tier 2 bonds. Regulatory approvals are pending.
- Country:
- India
Jammu and Kashmir Bank announced plans to bolster its financial position with a capital raise of Rs 1,250 crore, aiming for future growth and expanded balance sheet strength.
The Board of Directors has authorized significant fundraising efforts, including Rs 750 crore in equity via Qualified Institutional Placement and Rs 500 crore through the issuance of Tier 2 bonds.
The move reflects the board's confidence in the bank's growth strategies and its commitment to improving asset quality and shareholder value, pending regulatory approvals.
(With inputs from agencies.)
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