DCB to open QIP Issue

Development Credit Bank Ltd (DCB) has announced that the Capital raising Committee (CRC) of the Board of Directors of the Bank at its meeting held on November 11, 2009, inter alia, has decided to open the proposed issue of equity shares of face value Rs. 10 each of the Bank through a Qualified Institutions Placement (QIP) (the "Issue") in accordance with Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended and has also approved a Preliminary Placement Document in respect of this issue.

The stock was trading at Rs.37.85, up by Rs.1.55 or 4.27%. The stock hit an intraday high of Rs.38.60 and low of Rs.35.95.

The total traded quantity was 1144988 compared to 2 week average of 759139.

Source : Equity Bulls

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