JK Tyre stock rises a day after QIP opens
JK Tyre opened its QIP on Tuesday with an aim to raise up to Rs 500 crore. The board of the company set the floor price at Rs 358.96 apiece, which was at a discount of 5.2 per cent to the stock's previous close on NSE.
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JK Tyre Share Price: JK Tyre shares gained momentum in the morning trading session on BSE on Wednesday (December 20, 2023), a day after its Qualified Institutional Placement (QIP) opened.
The JK Tyre stock was trading higher by 0.90 per cent, or Rs 3.40, at Rs 382.05 at 10:58 am on Wednesday.
What is JK Tyre QIP
JK Tyre opened its QIP on Tuesday with an aim to raise up to Rs 500 crore.
The board of the company set the floor price at Rs 358.96 apiece, which was at a discount of 5.2 per cent to the stock's previous closeon NSE.
The fundraising is aimed at expanding the capacity of the tyre manufacturer.
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