J&K Bank board to meet next week to consider raising of capital

In a regulatory filing the public sector lender said its board will meet next week to consider the said proposal.

PTI

May 06, 2021 / 12:16 IST

Jammu & Kashmir Bank | East Bridge Capital Master Fund sold 1,01,25,004 equity shares in the company at Rs 31.09 per share on the NSE.

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The Jammu & Kashmir government will infuse up to Rs 500 crore into Jammu and Kashmir Bank (J&K Bank) as its promoter shareholder.

In a regulatory filing the public sector lender said its board will meet next week to consider the said proposal.

"The Board of Directors of the Bank will meet on Wednesday, May 12, 2021... to consider/discuss the proposal of capital infusion by the Government of Jammu & Kashmir as its promoter shareholder to the tune of Rs 500 crore in the bank," Jammu & Kashmir Bank said in a regulatory filing.

Shares of Jammu & Kashmir Bank were trading 1.02 percent higher at Rs 24.85 apiece on BSE.

PTI

first published: May 6, 2021 12:17 pm

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