Jammu and Kashmir Banks Rs 70.30-crore public issue aims to augment the banks net worth and long-term resources. M Y Khan, chairman and chief executive officer, said the bank would have a larger exposure to the industrial sector, particularly the infrastructure segment, in the days to come.
Of the Rs 70.30-crore public opening on 13 May, J&K Banks each share will have a premium of Rs 28 on the face value of Rs 10 each.
Khan said that, with an expected growth of 25 per cent in total business over the next few years, there will be a substantial increase in risk-weighted assets. The bank will have to augment net worth to sustain a healthy capital adequacy ratio. CAR is now 15.88 per cent