RBI nod to Jammu & Kashmir govt to acquire over 16.76 cr shares in J&K Bank
In August, the lender had said that Sebi had exempted the Jammu & Kashmir government from complying with its norms on substantial acquisition of shares and takeovers in the proposed acquisition of 16,76,72,702 equity shares (6.06 per cent) of the bank during 2021-22.
Earlier on April 1, the bank had said the Jammu & Kashmir government, as its promoter shareholder, has committed to infuse capital of up to Rs 500 crore in the bank.
In a separate filing, the lender said it has extended the issue closing date of J&K Bank Employee Stock Purchase Scheme, 2021 (JKBESPS 2021) to September 7, 2021 due to “prevailing circumstances”.
The issue under the employee stock purchase scheme (ESPS) was to close on September 3. The issue opened on August 27.
Under the ESPS, J&K Bank aims to raise up to Rs 150 crore by issuing 7.5 crore equity shares, in one or more tranches, to eligible employees of the bank.
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