DCB Bank Ltd approves QIP issue price of Rs. 174

In respect of the QIP, the Capital Raising Committee of DCB Bank Ltd (the 'Committee') at its meeting held today i.e. April 27, 2017, has approved the closure of the QIP today i.e. April 27, 2017.

The committee approved the issue price of Rs. 174 per Equity Share (including premium of Rs. 164 per Equity Share) for the issuance and allocation of 21,770,000 Equity Shares to be allotted to eligible qualified institutional buyers pursuant to the QIP.

The committee also approved and adopted the placement document dated April 27, 2017, in connection with the QIP.

Shares of DCB Bank Limited was last trading in BSE at Rs.182 as compared to the previous close of Rs. 183. The total number of shares traded during the day was 118381 in over 1307 trades.

The stock hit an intraday high of Rs. 185.5 and intraday low of 180.2. The net turnover during the day was Rs. 21533624.

Source : Equity Bulls

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