J&K Bank gains after board clears Rs 1,250-cr fundraising plan

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Jammu & Kashmir Bank (J&K) advanced 1.08% to Rs 107.65 after the bank's board has approved raising Rs 1,250 crore through mix of equity and bond issuances.

The bank will raise up to Rs 750 crore in one or more tranches through a Qualified Institutional Placement (QIP), subject to shareholder approval and applicable regulatory clearances.

Additionally, the board has approved raising up to Rs 500 crore via non-convertible, redeemable, unsecured, Basel III-compliant Tier II debentures on a private placement basis, pending requisite regulatory approvals.

J&K Bank offers banking services under the three major divisions as support services, depository services, and third-party services.

The bank reported a 1.91% jump in net profit to Rs 494.11 crore on a 2.04% decline in total income to Rs 3,446.71 crore in Q2 FY26 over Q1 FY26. On a year-on-year (YoY) basis, the companys net profit declined 10.31%, and revenue rose 0.79% in Q2 FY26.

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