DCB Bank raises Rs 378.80 crore through QIP

28 Apr 2017 Evaluate

Private lender DCB Bank has raised Rs 378.80 crore through an issue of shares to qualified institutional investors on private placement basis. The bank offered 21,770,000 equity shares to qualified institutions buyers under the qualified institutional placement (QIP) at an issue price of Rs 174 per share.

The infusion of up to Rs 400 crore through the QIP will help the bank to add up to 2 percentage points to the core capital buffer.

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.

DCB Bank Share Price

119.10 1.55 (1.32%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
HDFC Bank 1448.20
ICICI Bank 1095.75
Axis Bank 1048.30
Indusind Bank 1549.10
Kotak Mahindra Bank 1785.80
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