Development Credit Bank to raise Rs.300 crores in FY 2012

Pursuant to the authority given by the Board of Directors of Development Credit Bank Ltd, the Capital Raising Committee of the Board has approved to raise an amount not exceeding Rs.300 crores (Rupees Three Hundred Crores only) (including Rs.150 crore which has been authorised by the shareholders at fifteenth AGM held on June 01, 2010 and could not be raised till date) through issue of further shares including under QIP, subject to securing appropriate regulatory and other approvals, as applicable.

The stock was trading at Rs.63.35, down by Rs.0.50 or 0.78%. The stock hit an intraday high of Rs.64.70 and low of Rs.63.15.

The total traded quantity was 10.41 lakhs compared to 2 week average of 51.39 lakhs.

Source : Equity Bulls

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