DCB allots 19650000 Equity Shares

The QIP Committee of the Board of Directors of Development Credit Bank Ltd, at the meeting held on March 06, 2012, has issued and allotted, 1,96,50,000 (One Crore Ninety Six Lakh Fifty Thousand ) Equity Shares of face value of Rs.10/- each at a price of Rs. 47.84 per equity share (including a premium of Rs.37.84 per equity share) aggregating to Rs. 94,00,56,000 (Rupees Ninety Four Crore Fifty Six Thousand Only) to Qualified Institutional Buyers (QIBs) pursuant to qualified institutions placement in terms of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, ("SEBI ICDR Regulations")as amended.

Consequent to the issue and allotment of the Equity Shares to QIBs, the Paid-up Equity Share Capital of the Bank stands increased from the present Rs. 200,30,65,640/- divided into 20,03,06,564 equity shares of the face value of Rs. 10/- each to Rs. 219,95,65,640/- divided into 21,99,56,564 equity shares of the face value of Rs. 10/- each.

The Development Credit Bank Ltd stock was trading at Rs.44.60, up by Rs.0.05 or 0.11%. The stock hit an intraday high of Rs.45.30 and low of Rs.43.70.

The total traded quantity was 3.47 lakhs compared to 2 week average of 7.48 lakhs.

Source : Equity Bulls

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