Board of Directors of J&K Bank approve issue of 7 cr equity shares through ESPS

J&K Bank stated that its board of directors have approved the issuance and allotment of up to seven crore equity shares through ESPS

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Board of Directors of J&K Bank approve issue of 7 cr equity shares through ESPS

New Delhi: State-owned Jammu & Kashmir Bank (J&K bank) Limited in a regulatory filing on Monday stated that its board of directors have “approved the issuance and allotment of up to seven crore equity shares of face value of Rupee one each (aggregating up to Rs 300 crores including premium) in one or more tranches to eligible employees of the Bank by way of Employee Stock Purchase Scheme (ESPS) in accordance with Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.”

Additionally, the filing also stated that the meeting was held on Monday to discuss the same.

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