DCB Bank plans to raise Rs 150 cr via bonds

Private sector lender DCB Bank today said it plans to raise up to Rs 150 crore by issuing bonds on private placement basis.
"The Chairman and/or the Managing Director & CEO and/or the Chief Financial Officer may consider the proposal to raise further fund by issue of debt securities including Tier II Bonds, on private placement basis up to Rs 150 crore on or after January 6, 2018," the bank said in a regulatory filing.
The bank already has approvals from board of directors and shareholders to raise tier II capital by issuing debt securities and other means up to Rs 450 crore in one or more tranches on private placement basis.

And in a meeting held in October, the board had delegated its authority to the Chairman and/or the Managing Director & CEO and/or the Chief Financial Officer pertaining to the capital raising plans.
Shares of the bank closed 1.03 per cent down at Rs 192 apiece on BSE.