Stocks

DCB Bank raises Rs 379 cr via QIP

PTI New Delhi | Updated on January 11, 2018 Published on May 02, 2017

Private sector lender DCB Bank has raised Rs 379 crore through qualified institutional placement (QIP) to fund business growth.

As of March 31, the bank’s capital adequacy ratio (CAR) stood at 13.76 per cent (of which Tier I capital was 11.87 per cent and Tier II was 1.89 per cent) as per Basel III norms, that is, before the QIP.

Promoter holding in the enhanced capital base of the bank now stands at approximately 15.04 per cent, DCB Bank said in a statement.

“The capital raising is in line with the business plans. The bank is confident of achieving steady growth in the coming years,” it added.

Published on May 02, 2017
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