DCB files papers with Sebi

Development Credit Bank (DCB) has filed the draft red herring prospectus with the Securities and Exchange Board of India (Sebi) for its Rs 300 crore public issue.

The Switzerland-based Aga Khan Fund for Economic Development-promoted bank is planning to offer two million equity shares to eligible employees of the bank.

J M Morgan Stanley and Enam Financial Consultants are the lead managers to the issue, an official release said.