JK Tyre plans to raise `1,000cr

New Delhi: JK Tyre & Industries on Wednesday said its board has given approval to raise up to `1,000 crore by issuing securities. “The board approved raising of funds by issue of securities, convertible/nonconvertible with or without warrant... by way of public and or private offerings... for an amount of up to `1,000 crore in one of more tranches,” JK Tyre & Industries said in a regulatory filing. This is in suppression of the resolutions for raising of funds by issue of non-convertible debentures as announced on November 9, it added. — PTI