DCB up 10.92% on fund-raising

The DCB scrip surged 10.92 per cent to Rs 38.6 on reports of fund raising. The bank plans to raise at least Rs 75 crore through sale of lower Tier-II bonds that opened on Thursday.

As per the reports, the bonds carried a maturity of five years and eight months and a coupon rate of 11.25 per cent. The issue has an unspecified greenshoe option and is scheduled to close on 25 August, 2009. The stock made an intraday high of Rs 41.45 and a low of Rs 34.75. Total traded volumes stood at 1.13 crore shares on Thursday.