DCB opens Tier II Bonds Issue worth Rs 80 crores

Development Credit Bank Ltd (DCB) has announced with reference to earlier announcement dated July 25, 2009 on Bank's capital raising plan for the coming 12 months.

CRISIL Ltd and Brickwork Ratings India Pvt Ltd have rated the Tier II Bonds Issue by the Bank upto Rs 100 crores, as "BBB / Stable" (pronounced Triple B with stable outlook") (indicating moderate degree of safety with regard to timely payment of interest and principal on the instrument) and BWR A - (pronounced A Minus) (Outlook:Stable) (indicating Adequate credit quality in terms of timely servicing of debt obligations), respectively.

The Bank has opened the Tier II Bonds Issue upto Rs 80 crores by private placement basis on August 06, 2009.

The stock was trading at Rs.38.70, up by Rs.0.10 or 0.26%. The stock hit an intraday high of Rs.39.95 and low of Rs.37.75.

The total traded quantity was 4115497 compared to 2 week average of 1954600.

Source : Equity Bulls

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