The lender has set the floor price for the issue at Rs 112.66 per share, reflecting a discount of 10% from the company s previous closing price of Rs 125.1 on the BSE.
The J&K Bank QIP opened on December 11, with the J&K Bank approving the floor price of the QIP at Rs 112.66 per share. The lender said it would, at its discretion, offer a discount of not more than 5 per cent on the floor price.
After witnessing a steady decline since 2014 and hitting a rock bottom of INR12 in April 2020, J&K Bank has bounced back around 10x, becoming a multibagger. The stock is currently trading at a P/BV of 1.37x at INR112. While there could be several hiccups on the way, for investors its an opportunity worth looking at.