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Development Credit Bank Ltd has planned to raise up to Rs 100 crore by way of preferential issue to three investors.
In a communication to the stock exchanges, DCB said that the board of directors has given approval for raising up to Rs 100 crore through a preferential issue at Rs 47.84 per share aggregating up to 9.34 per cent of the post-issue share capital of the bank.
The issue is being made to Wolfensohn Capital Partners, LP or its wholly-owned subsidiary (post-issue shareholding: 2.78 per cent), Tano Mauritius India FVCI II (post-issue shareholding: 3.72 per cent) and TVS Shriram Growth Fund I (post-issue shareholding: 2.84 per cent).
On the BSE, DCB was trading at Rs 47.25, a gain of 30 paise, with 2.47 lakh shares being traded.
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