DCB approves issue of 23725835 shares

Development Credit Bank Ltd (DCB) has announced that the Capital raising Commiffee (CRC) of the Board of Directors of the Bank has approved issuance of 2,37,25,835 shares of Rs. 10/- each at a premium of Rs. 24.14 per share aggregating to Rs. 81,00,00,006.90 (Rupees Eighty One Crores Six and Paise Ninety only) to QIBs. Further November 13, 2009 has been fixed as the Bid Closing Date and the Placement Document will be filed for the QIP.

The stock closed the day at Rs.37.80, down by Rs.0.90 or 2.33%. The stock hit an intraday high of Rs.38.70 and low of Rs.37.50.

The total traded quantity was 858174 compared to 2 week average of 1159456.

Source : Equity Bulls

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