The Jammu & Kashmir Bank Limited has informed the Exchange about statement of deviation(s) or variation(s) under Reg. 32
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Jammu & Kashmir Bank has submitted a quarterly compliance statement covering 8 past fund-raising exercises, with a combined value of about Rs. 2,800 crores. These include four preferential issues (Rs. 250 cr in 2017, Rs. 282 cr in 2017, Rs. 500 cr in 2020, and Rs. 500 cr in 2021), two Employee Stock Purchase Schemes (Rs. 150 cr in 2021 and Rs. 274.75 cr in 2023), and two Qualified Institutional Placements (Rs. 93.50 cr in 2022 and Rs. 750 cr in 2023). For all 8 tranches, the bank has confirmed full utilisation of the raised amount with zero deviation or variation from the original stated purpose. The funds were used to support business growth, long-term capital needs, and to maintain the Capital Adequacy Ratio as per RBI norms. The Audit Committee has reviewed the statement and raised no concerns.
This is a routine regulatory compliance filing and carries no material negative signal. The fact that all Rs. 2,800+ crores across multiple capital raises have been used exactly as promised reassures shareholders about the bank's capital discipline and governance, with no news impact on the stock price expected.