Tyre manufacturer JK Tyre & Industries has raised INR 500 crore through a Qualified Institutional Placement (QIP). The QIP, priced at INR 345 per share, attracted interest from Indian mutual funds, insurance companies, and foreign institutional investors.
The funds raised will be used for both strengthening the balance sheet and growing capital expenditure.
Emkay Global Financial Services Ltd acted as the sole Lead Manager for the QIP issuance.
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