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DCB Bank will raise Rs 300 crore by issuing debt securities on a private placement basis.
The decision was taken by the Capital Raising Committee of the board of the bank at a meeting held today, the bank said in a BSE filing.
The committee has approved issuance of unsecured non-convertible tier-II bonds for an aggregate amount not exceeding Rs 300 crore on private placement basis in one or more tranches, the filing said.
The committee has also authorised the Chairman/ MD and CEO or the Chief Financial Officer of the bank to finalise terms including size, tenor, coupon, maturity and terms of interest payment, which are yet to be decided, it added.
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