JK Tyre seeks shareholders nod to raise up to Rs 1000 crore by issuing securities

JK Tyre & Industries has got their shareholders' approval to raise up to Rs 1,000 crore by issuing securities.

The tyre maker has sought approval of the shareholders to raise the funds by way of postal ballot.

"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.

Shares of JK Tyre were trading 0.47 per cent higher at Rs 117.20 apiece on BSE.