Latest News | DCB Bank Plans to Raise Up to Rs 500 Cr
Get latest articles and stories on Latest News at LatestLY. Private sector lender DCB Bank on Thursday said it plans to raise up to Rs 500 crore through equity or other instruments.
New Delhi, Jun 11 (PTI) Private sector lender DCB Bank on Thursday said it plans to raise up to Rs 500 crore through equity or other instruments.
The decision was taken at the bank's board meeting on Thursday to approve the notice of the 25th annual general meeting that included considering a fundraising proposal.
The meeting, it said, considered enabling resolution for proposing raising of funds up to Rs 500 crore by way of issue of equity shares and other securities convertible into equity shares through qualified institutional placement, as may be required by the bank from time to time, DCB Bank said in a regulatory filing.
The fundraising is subject to necessary permissions and approvals, including shareholders' approval and such other statutory approvals as may be required, and the provisions of applicable law, it added.
DCB Bank's shares on Thursday closed 1.57 per cent higher at Rs 74.55 apiece on the BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)