DCB to raise up to Rs 100 cr via QIP issue

Development Credit Bank (DCB) today said it will raise funds up to Rs 100 crore by way of private placement of shares with potential buyers.

The capital raising committee (CRC) of the board of directors of the bank at its meeting held today has decided to opens the bid to raise Rs 100 crore by way of private placement basis with potential buyers, Development Credit Bank said in a filing to the Bombay Stock Exchange (BSE).

Earlier on September 22, the shareholders of the bank has given their approval to the board of directors to go ahead with Rs 100 crore the fund raising plan, by way of private placement of shares with qualified institutional buyers.

 

Shares of Development Credit Bank settled at Rs 38.95 on the BSE, up 7.30 per cent from its previous close.