J&K Bank to consider raising Rs 1600 crore in a meeting next week

The meeting is scheduled for May 15, 2019. It will consider raising capital for FY20.

Jammu & Kashmir Bank Friday said its board will meet next week to consider raising Rs 1,600 crore during the current financial year.

"The board of directors shall consider the raising of capital (ATI/tier II) to the tune of Rs 1,600 crore during the financial year 2019-2020 in the meeting scheduled for May 15, 2019," Jammu & Kashmir (J&K) Bank said in a BSE filing.

Shares of Jammu & Kashmir Bank were trading 4.16 per cent higher at Rs 55.10 apiece on BSE.