JK Tyre Seeking Shareholders’ Approval To Raise Rs 1,000 Crores
By Ankit verma
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Updated: Aug 11th, 2023 at 5:20 pm
One of India’s largest tyre manufacturer, JK Tyre and Industries has sought shareholders’ approval to raise up to Rs 1,000 crores by issuing securities. The company has sought the approval from shareholders via postal ballot to raise the funds.
“It is proposed to empower the board to raise funds through an issuance of any one or more types of securities, for an aggregate amount not exceeding Rs 1,000 crore or its equivalent in any foreign currency, in one or more tranches,” JK Tyre & Industries said in a regulatory filing.
About the company –
JK Tyre & Industries Ltd, well known as JK Tyre today, stands as the market leader in India for the Truck/Bus Radial Tyre Segment. The company was founded in 1874 and presently has the total production capacity of more than 20 million tyres per annum.
Author: Ankit verma
My need for speed began at a very early age and I realised this as soon as I got my first bicycle at the age of 8. When all the other kids would break downhill I would pedal harder just to go faster and enjoy the thrill. Adding to my interest for speed, I grew engrossed in the working mechanics of two wheelers thanks to my father as he is a hydraulic mechanic and would take me along with him on his repair sessions. Eventually I became familiar with the tools and basic technical concepts of two wheelers.Super sport and sport tourers are more of my liking and the sparks to these flames were ignited the first time I experienced the maddening power of a Yamaha YZF R1. I was just 14 years old at the time and got to ride as a pillion with an older acquaintance. This one short ride influenced my every decision in terms of the bikes I want to own. As of today I’m 26 years old and a proud owner of a Yamaha Fz15 version 2.0 and a Kawasaki Ninja 650 2014 model having clocked a decent 30k Kms only while touring, waiting to clock 1000s more as riding makes me feel whole again after enduring the dismal routines of life.
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