Development Corporation Bank has raised approximately Rs 94 crore of Tier 1 capital through a recently concluded Qualified Institutional Placement. In addition to this, the company’s board of directors has approved a preferential allotment of up to Rs 100 crore. On successful completion of this allotment, the bank’s Tier 1 capital would increase approximately by Rs 98.75 crore.
However, the bank’s promoter shareholding post this allotment, would come down to 19.20% from 23.06% as of December 31, 2011. As of December 31, 2011, DCB’s bank capital adequacy ratio was 13% (of which the Tier 1 capital was 11.15%).
DCB Bank is a modern emerging new generation private sector bank with 84 branches across 12 states and 2 union territories. It is a scheduled commercial bank regulated by the Reserve Bank of India.
