J&K Bank board approves capital raising

The board of directors of Jammu & Kashmir Bank approved raising of capital by issue of equity shares through preferential allotment to Government of Jammu & Kashmir, the promoter and majority shareholder of the bank, for an amount upto Rs.500 crore.

The announcement was made after market hours on Friday, 4 June 2021. Shares of Jammu & Kashmir Bank fell 0.51% to settle at Rs 29.40 on Friday.

The stock hit a 52-week high of Rs 32.95 on 18 February 2021. The stock hit a 52-week low of Rs 11.55 on 01 June 2020.

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

 

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