DCB allots 23725835 shares to QIBs

Development Credit Bank Ltd (DCB) has announced that the Capital Raising Committee (CRC) of the Bank at its meeting held on November 18, 2009, has allotted 2,37,25,835 fully paid-up equity shares of Rs. 10 each at an issue price of Rs. 34.14 per Equity Share (including premium of Rs. 24.14 per Equity Share) aggregating to Rs. 81,00,00,006.90 (Rupees Eighty One Crores Six and Paise Ninety only) to Qualified Institutional Buyers (QIBs) by way of a Qualified Institutions Placement (QIP) in terms of Chapter VIII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

With completion of the Allotment process, as required by the Reserve Bank of India (RBI) vide their letter dated November 03, 2009, the Bank shall be providing the details of allotment made to RBI for their post facto approval.

The stock was trading at Rs.37.50, up by Rs.0.05 or 0.13%. The stock hit an intraday high of Rs.37.90 and low of Rs.37.25.

The total traded quantity was 232394 compared to 2 week average of 1142771.

Source : Equity Bulls

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