J&K Bank Launches QIP To Raise Rs 750 Crore

Jammu and Kashmir Bank Ltd. has launched its qualified institutional placement to raise up to Rs 750 crore.

The company's board set the floor price for the issue at Rs 112.66 apiece, a discount of 10.02% from its previous close of Rs 125.20 on the NSE.

In its meeting held on July 15, the board approved raising up to Rs 750 crore.

The company informed that it may at its discretion offer a discount of not more than 5% on the floor price.