Development Credit Bank (DCB) is planning to raise Rs 150 crore. The bank has board approval to raise Rs 300 crore and is planning to raise Rs 150 crore by the end of December. The bank is in talks with lead bankers.
The capital raised would support the banks growth for next one and half years. Fresh capital infusion would lead to about 4% dilution in existing shareholding. The bank had postponed its capital raising plan in October 2010 as the equity market was not favorable.
Besides, Development Credit Bank has received Reserve Bank of India’s (RBI) approval for 10 new branches, on May 27, 2011. The bank, in line with its strategy, plans to utilize these branches to pursue Retail Deposits, MSME and SME business.
DCB’s business segments include retail, micro-SMEs, large SMEs, mid-Corporates, agriculture, commodities, government, public sector, Indian banks, co-operative banks and non banking finance companies (NBFC). DCB has approximately 600,000 customers.
Company Name | CMP |
---|---|
HDFC Bank | 1437.60 |
ICICI Bank | 1117.80 |
Axis Bank | 1120.40 |
Indusind Bank | 1409.60 |
Kotak Mahindra Bank | 1630.50 |
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