DCB to raise Rs.275 crores through QIP issue

Development Credit Bank Ltd (DCB) has announced that the Board of Directors of the Bank at its meeting held on May 03, 2007 continued on May 04, 2007 has transacted the following:

In supersession of the earlier resolution for raising upto Rs 225 crores by way of QIP, the Board on May 04, 2007 has decided to raise upto Rs 275 crores through private placement, and / or preferential issue and / or Rights Issue and / or ADR / GDR and / or any other financial instruments.

The stock was trading at Rs.78.45, down by Rs.0.65 or 0.82%. The stock hit an intraday high of Rs.81.80 and low of Rs.78. The total traded quantity was 362461 compared to 2 week average of 683264.

Source : Equity Bulls

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