DCB Bank trades jubilantly on raising Rs 250 crore via QIP

DCB Bank is currently trading at Rs. 86.35, up by 3.15 points or 3.79% from its previous closing of Rs. 83.20 on the BSE.

The scrip opened at Rs. 85.55 and has touched a high and low of Rs. 87.50 and Rs. 85.55 respectively. So far 97655 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 92.45 on 22-Sep-2014 and a 52 week low of Rs. 46.80 on 22-Nov-2013.

Last one week high and low of the scrip stood at Rs. 87.50 and Rs. 81.35 respectively. The current market cap of the company is Rs. 2428.22 crore.

The promoters holding in the company stood at 18.42% while Institutions and Non-Institutions held 31.19% and 50.39% respectively.

DCB Bank has raised around Rs 250 crore of Tier I Capital through a recently concluded Qualified Institutions Placement (QIP). The board of directors of DCB Bank has approved the issue and allotment of 30,432,136 equity shares of face value Rs 10 each to eligible qualified institutional buyers (QIBs) at the issue price of Rs 82.15 per equity share, aggregating to approximately Rs 250 crore.

As a result of the QIP, the shareholding of the bank’s promoter will be reduced to around 16.43% from 18.45% as of June 30, 2014.