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| Exchange Received Time 15/04/2017 14:06:46 Exchange Disseminated Time 15/04/2017 14:06:49 Time Taken 00:00:03 | | Pursuant to Regulation 30 of Listing Regulations, it is hereby informed that the Board of Directors of the Bank, at its meeting held today, that is Saturday, 15th April, 2017 approved:- a. The proposal for further issue of equity shares of the Bank upto a maximum of Rs. 282 crore (Including the Premium amount) on a preferential allotment basis to the Government of Jammu & Kashmir, the promoter and majority shareholder of the Bank, and b. Rising of funds through allotment of unsecured, redeemable, subordinated, non convertible, BASEL III Compliant Tier 2 Bonds in the nature of Debentures/Bonds aggregating to Rs. 1000 Crore. subject to regulatory approvals wherever required including shareholders approval for the same by way of Postal Ballot. |
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