JK Tyre & Industries Ltd allots 1,44,92,749 equity shares under QIP

The Committee of Directors of JK Tyre & Industries Ltd at its meeting held today, i.e., 23rd December, 2023 approved allotment of 1,44,92,749 equity shares of face value Rs. 2 each ("Equity Shares") to eligible qualified institutional buyers at the issue price of Rs. 345 per Equity Share, i.e., at a premium of Rs. 343 per Equity Share, which includes a discount of Rs. 13.96 (3.89% of the floor price) to the floor price, aggregating to approximately Rs. 500 Crore, pursuant to the issue by way of qualified institutions placement ("Issue").

Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased from Rs. 49,24,61,760 consisting of 24,62,30,880 Equity Shares to Rs. 52,14,47,258 consisting of 26,07,23,629 Equity Shares.

The Issue opened on 19th December 2023 and closed on 22nd December 2023.

Shares of JK Tyre & Industries Limited was last trading in BSE at Rs. 383.50 as compared to the previous close of Rs. 382.65. The total number of shares traded during the day was 230476 in over 5356 trades.

The stock hit an intraday high of Rs. 388.00 and intraday low of 380.00. The net turnover during the day was Rs. 88534999.00.

Source : Equity Bulls

Keywords

JKTyreandIndustries INE573A01042 SharesAllotment QIBs QIP