Jammu and Kashmir Bank Ltd has informed that the Board of Directors of the Bank in their meeting held today i.e. March 17, 2022, subject to regulatory approvals as applicable, have approved raising of BASEL III compliant Tier II capital upto Rs1000 crore in the form of non-convertible, redeemable, unsecured, bonds, on a private placement basis.
According to the regulatory filing, the meeting commenced at 11:00 A.M. and concluded at 12:20 P.M.
At around 2:55 PM, Jammu and Kashmir Bank stocks were trading at Rs35 apiece up by Rs0.45 or 1.3% from its previous closing of Rs34.55 apiece on the BSE.
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