Development Credit Bank to raise upto Rs 100 crore

Development Credit Bank to raise upto Rs 100 croreMumbai-based Private Sector lender, Development Credit Bank Ltd (DCB) has informed that its board of directors has decided to raise upto Rs 100 crore.

The lender intends to raise the money through Sub-Debt Tier II (Bonds) issue, i. e. upto Rs 100 crores by QIP route and upto Rs 200 crores by Rights Issue during a period of next 12 months.

However, the decision is subject to securing appropriate regulatory and other approvals, as applicable.

The shares of the lender closed on Friday at Rs 35, up 2% compared to its previous close. The counter has made 52-week-high and low of Rs 59 and Rs 14 respectively.