Jammu and Kashmir Bank fixes QIP issue price as Rs. 32.70 per share

The Capital Issuance Committee of Jammu and Kashmir Bank Ltd at its meeting held on March 31, 2022 has, approved the closure of the issue period for the Issue on March 31, 2022 pursuant to the receipt of application forms for an aggregate of 2,85,93,267 fully paid up Equity Shares of the Bank and the funds in the escrow account from eligible qualified institutional buyers in accordance with the terms of the Issue, which opened on March 28, 2022.

The committee determined and approved the issue price of ₹ 32.70 per Equity Share (including a premium of ₹ 31.70 per Equity Share) ("Issue Price"), which is at a discount of 4.97 % (i.e. ₹ 1.71 per Equity Share) to the floor price of ₹ 34.41 per Equity Share, for the Equity Shares to be allotted to the eligible qualified institutional buyers in the Issue.

Shares of The Jammu & Kashmir Bank Limited was last trading in BSE at Rs. 32.30 as compared to the previous close of Rs. 32.00. The total number of shares traded during the day was 616811 in over 2905 trades.

The stock hit an intraday high of Rs. 33.05 and intraday low of 32.10. The net turnover during the day was Rs. 20157820.00.

Source : Equity Bulls

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TheJammuandKashmirBank INE168A01041 QIP FundRaising QIBs IssuePrice