DCB Bank gained 1.25% to Rs 194.40 at 14:03 IST on BSE after the company said that the Chairman and/or the Managing Director & CEO and/or the Chief Financial Officer may consider the proposal to raise further fund.
The announcement was made after market hours yesterday, 3 January 2018.Meanwhile, the S&P BSE Sensex was up 143.18 points, or 0.42% to 33,936.56. The S&P BSE Mid-Cap index was up 88.24 points, or 0.5% to 17,907.56, outperforming the Sensex.
On the BSE, 38,584 shares were traded in the counter so far, compared with average daily volumes of 1.63 lakh shares in the past one quarter. The stock had hit a high of Rs 194.50 and a low of Rs 191.60 so far during the day. The stock had hit a record high of Rs 213 on 16 June 2017. The stock had hit a 52-week low of Rs 108.30 on 3 January 2017.
The mid-cap bank has equity capital of Rs 307.90 crore. Face value per share is Rs 10.
DCB Bank said that the Chairman and/or the Managing Director & CEO and/or the Chief Financial Officer may consider the proposal to raise further fund by issue of debt securities including tier II Bonds, on private placement basis up to Rs 150 crore on or after 6 January 2018.
The bank has necessary approvals from the board of directors and the shareholders to raise tier II capital by issue of debt securities including but not limited to tier II bonds upto Rs 450 crore by the bank in one or more tranches on private placement basis from time to time.
The board, at its meeting held on 16 October 2017 had further delegated its authority to the Chairman and/or the Managing Director & CEO and/or the Chief Financial Officer to do all the necessary acts and things, inter alia, to finalize and approve offer document, size of the issue, coupon rate, tenure, face value, opening and closing of the issue etc, pertaining to the issue.
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Accordingly, the bank had in November 2017 raised Rs 300 crore by issue of tier II bonds on private placement basis.
DCB Bank's net profit rose 21.5% to Rs 58.90 crore on 14.9% increase in total income to Rs 652.25 crore in Q2 September 2017 over Q2 September 2016.
DCB Bank is a private sector bank
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