DCB Bank has raised Rs 300 crore through allotment of 9.35% Unsecured, Subordinated, Non-Convertible, Fully Paid-Up, Taxable, Redeemable, Basel III Compliant Tier II Bonds of face value of Rs 1 crore each, on a private placement basis. The Bonds shall be redeemed in accordance with the terms of issue on its original maturity of 10 years, however, a Call Option may be exercised at the sole discretion of the Bank on or after the fifth anniversary from the Deemed Date of Allotment or any coupon payment date thereafter with prior approval of RBI, subject to Tax Call/ Regulatory Call.
The schedule of payment of coupon/interest is semi-annually and the Bonds will be listed on NSE and BSE. This issuance will support the business growth and also further improve the Capital Adequacy of the Bank. The Bonds raised has a credit rating of ‘AA-/Stable’ from CRISIL.
DCB Bank is one of the emerging private sector banks in India. The Bank is amongst the first private sector banks to waive advisory fee and service charge for Mutual Fund investment.
| Company Name | CMP |
|---|---|
| HDFC Bank | 799.90 |
| ICICI Bank | 1347.50 |
| Axis Bank | 1359.15 |
| Kotak Mahindra Bank | 383.50 |
| Indusind Bank | 853.15 |
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