Business Update14 May 2026, 03:46 pm
JK Tyre Fully Utilizes QIP Proceeds by March 2026
AI Summary
JK Tyre & Industries Ltd. announced the full utilization of proceeds from its Qualified Institutions Placement (QIP) issue as of March 31, 2026. A monitoring agency report from India Ratings & Research Private Limited, dated May 13, 2026, confirms that the utilization aligns with the issue's terms and objectives, with no deviations or variations observed. The report, submitted in compliance with SEBI regulations, includes a certificate from the Statutory Auditor, Lodha & Co LLP, verifying the proper use of funds.
Key Highlights
- JK Tyre fully utilized QIP issue proceeds by March 31, 2026.
- India Ratings & Research confirms no deviation from QIP objectives.
- Lodha & Co LLP issued a Statutory Auditor certificate verifying fund utilization.
- The QIP issue involved 1,44,92,749 equity shares at ₹345.00 per share.
- Total QIP issue size was ₹500.00 Crores.
Price Impact
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