JK Tyre Updates on proceeds of the Issue

JK Tyre & Industries Ltd has allotted 43,03,350 Warrants to the Promoter Group of the Company after getting the requisite approvals and received a sum of Rs. 12.37 Crores from the allottees i.e. 25% of the total consideration in terms of the Issue and in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. The proceeds of the Issue have been used towards objects of the same.

Shares of JK Tyre & Industries Ltd was last trading in BSE at Rs.140.40, down by Rs.1.20 or 0.85%. The stock hit an intraday high of Rs.144 and intraday low of Rs.139.50.

The total traded quantity was 0.62 lakh shares as compared to 2 week average of 0.76 lakh shares.

Source : Equity Bulls

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