JK Tyre and Industries, at its meeting held on February 12 has received approval from the board, for raising of funds for an amount upto Rs.1,000 crore.

The company has reported a net profit of Rs,9.97 crore for the quarter ended December 31,2017, which was 88.43% less than net profit for the same quarter, in the last year. In the year ago quarter, it had reported a net profit of Rs.86.19 crore.

The fund will be raised by issue of securities, convertible/non-convertible, by way of private offerings and /or qualified institutions placement or any combination thereof, subject to such approvals as may be required, in one or more tranches, to eligible investors in such manner and on such terms and conditions including security, rate of interest, etc as may be permitted under applicable laws.

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