Private sector DCB Bank has fixed the floor price at Rs 177.39 for its issue of shares to qualified institutions to raise Rs 400 crore. The Bank may offer a discount of 5 per cent on the floor price.
The infusion of up to Rs 400 crore will help it add up to 2 percentage points to the core capital buffer and the tier-I will go up to 13 per cent after the infusion.
The Bank had reported a lower net profit of Rs 53 crore for the fourth quarter ended March 2017, on higher provisioning and higher tax expense. The Bank had recorded a profit of Rs 70 crore in the same quarter last fiscal.
