“JK Tyre successfully raised Rs.500 crore through QIP”
New Delhi, January 01 st , 2024: JK Tyre & Industries Limited, one of the leading tyre
manufacturers in India has successfully concluded its fund-raising plans of Rs.500 crore by way of
Qualified Institutional Placement (QIP).
QIP was priced at Rs.345 per share (including a premium of Rs.343 per share with face value of
Rs.2 per share)
QIP received overwhelming response from marquee investors including Indian mutual funds,
insurance companies and foreign institutional investors.
Dr. Raghupati Singhania, Chairman and Managing Director, JK Tyre said; “We are pleased to
have successfully completed QIP of Rs.500 crore. This is an important milestone in our corporate
journey. Participation of several reputed investors in the issue endorses their faith and confidence
in the Company’s growth story.
QIP funds will be used for the purpose of growth capex and strengthening of the balance sheet”.
Emkay Global Financial Services Ltd managed the issue as sole Lead Manager.