Business Update1 Jan 2024, 07:59 pm
JK Tyre successfully raises Rs. 500 crore through QIP
AI Summary
JK Tyre & Industries Limited has successfully raised Rs. 500 crore through Qualified Institutional Placement (QIP) at a price of Rs. 345 per share, with overwhelming response from marquee investors including Indian mutual funds, insurance companies and foreign institutional investors. The funds raised will be used for growth capex and strengthening of the balance sheet.,
Key Highlights
- Raised Rs. 500 crore through QIP
- Overwhelming response from investors
- Growth capex and balance sheet strengthening