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JK Tyre raises 5 billion rupees

JK Tyre & Industries Limited has successfully concluded a 5-billion-rupee (£47.474 million; 55 million euros; US$60.125 million) Qualified Institutional Placement (QIP). The QIP was priced at 345 rupees per share (including a premium of 343 per share with face value of 2 rupees per share). According JK Tyre, the QIP received an “overwhelming response” from “marquee investors including Indian mutual funds, insurance companies and foreign institutional investors”.

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Related news:

  1. JK Tyre raises £47 million through QIP
  2. JK Tyre acquires Kesoram subsidiary, tyre factory
  3. JK Tyre launches US operation
  4. JK Tyre boosting car tyre capacity by 3 million units
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