Development Credit Bank (DCB) is likely to raise up to Rs 100 crore by way of preferential issue to Wolfensohn Capital Partners, LP or its wholly-owned subsidiary, Tano Mauritius India FVCI II and TVS Shriram Growth Fund I.
The bank has received approval from the board of directors for raising up to Rs 100 crore through a preferential issue at Rs 47.84 per share aggregating up to 9.34 per cent of the post-issue share capital of the bank.
The bank’s net profit for the quarter under review surged by 91.43% at Rs 15.64 crore as compared to Rs 8.17 crore for the quarter ended December 31, 2010. Its total income has increased by 26.16% to Rs 209.72 crore for the quarter under review from Rs 166.23 crore for the similar quarter of the previous year.
