DCB Bank’s board approves raising up to Rs 400 cr via QIP

07/03/2017 17:11

Small-time private sector lender DCB Bank Ltd on Tuesday said that its board has approved raising of capital through share issue worth Rs 400 crore to Qualified Institutional Buyers.

In a filing to the Bombay Stock Exchange, the bank said, “The Board of Directors of the bank, in the meeting held on Tuesday, March 07, 2017, has approved rasing of capital by way of issue of equity shares to Qualified Institutional Buyers to the extent of Rs 400 crores inclusive of share premium.”

The bank’s board has also approved the change in place of keeping and inspection of registers, returns etc, it said.

The bank further said that it is conducting a postal ballot for seeking the approval of the members. Meanwhile, shares of the bank closed at Rs 155.75 apiece, up 0.48 per cent, from previous close on BSE.

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