Dhanlaxmi Bank on Friday said its Managing Director and CEO, as authorised by the Board of Directors, has approved the allotment of 1,500 unsecured, redeemable non-convertible Basel-III-compliant subordinated Tier-II Bonds aggregating ₹150 crore to the Devaswom Commissioner, Travancore Devaswom Board (TDB).
The bonds, which have a face value of ₹10 lakh each, are in the nature of debentures, and were allotted on a private placement basis on March 29, the private sector bank said in a stock exchange notice.