DCB Bank raises Rs 378.80 cr through QIP

Private lender DCB Bank has raised about Rs 378.80 crore through an issue of shares to qualified institutional investors on private placement basis.
The bank offered 21,770,000 equity shares to qualified institutions buyers under the QIP at an issue price of Rs 174 per share, DCB Bank said in a regulatory filing.
A senior official of the bank had earlier said that infusion of up to Rs 400 crore through the qualified institutions placement (QIP) will help it add up to 2 percentage points to the core capital buffer.
Shares of the bank closed 0.55 per cent down at Rs 182 on BSE.