DCB Bank raises Rs 250 crore via QIP

DCB Bank (formerly known as Development Credit Bank) has raised Rs 250 crore of Tier I Capital through the Qualified Institutions Placement (QIP) route. After the QIP, the shareholding of DCB Bank's promoter has reduced to approximately 16.43% from 18.45% as of June 30, 2014.

The capital raised by the lender will be used to fuel its future growth plans. As of June 30, 2014, DCB Bank's capital adequacy ratio (CAR) was 13.63% (of which Tier I capital was 12.77% and Tier II at 0.86 percent as per Basel III norms).