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J&K Bank to allot allot 3.65-cr shares to state govt

Press Trust of India  |  New Delhi 

Jammu & Kashmir said it will allot over 3.65 crore on preferential basis to the state in lieu of capital funding of Rs 249.99 crore.

The decision was made at the board meeting held today.

said it will make preferential allotment of 3,65,55,051 equity for to of Jammu & Kashmir at issue price of Rs 68.39 aggregating to Rs 249.99 crore.

J&K is the promoter and majority shareholder of the

As on December 31, 2016, the promoter group held 53.17 per cent in the bank, as per data on

Stocks of the bank closed 0.73 per cent up at Rs 75.50 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 20 2017. 22:13 IST