J&K Bank raises Rs 360 cr through bonds

AgenciesUpdated: Wednesday, March 30, 2022, 08:38 PM IST
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The capital issuance committee of the board of directors, in its meeting held on March 30, 2022, approved the bond issue, the bank said in a regulatory filing. / Representative image |

Jammu and Kashmir Bank on Wednesday said it has raised Rs 360 crore by issuing bonds.

The capital issuance committee of the board of directors, in its meeting held on March 30, 2022, approved the bond issue, the bank said in a regulatory filing.

The committee considered and approved allotment of 360 unsecured, subordinated, non-convertible, redeemable fully paid-up Basel III compliant Tier II bonds in the nature of debentures of face value of Rs 1 crore each, aggregating up to Rs 360 crore, it added.

Shares of the bank closed at Rs 32 apiece on the BSE, down by 3.18 per cent from previous close.

(With inputs from PTI)

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