Dhanalakshmi Bank today said it has raised Rs 380.73 crore by selling shares to investors through qualified institutional placement (QIP). The bank has sold 21 million shares at Rs 181.30 apiece, it said. The QIP ended on July 19.
A committee of the board of directors has approved the issue and allotment of shares, it said. The bank's shares were trading at Rs 178.50, nearly 0.58 per cent lower than Monday's close.
The Bank sees advances of Rs 9,000 crore by the end of the current financial year (by FY11 end), Amitabh Chaturvedi, managing director and chief executive officer told reporters on Tuesday.
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