Private sector DCB Bank has set the floor price at Rs 177.39 for its issue of shares to qualified institutions to raise Rs 400 crore.
The capital raising committee of the bank at a meeting held today authorised to open the qualified institution placement (QIP) issue.
The bank may offer a discount of not more than 5 per cent on the floor price for the QIP, DCB Bank said in a regulatory filing.
A senior official of the bank earlier in January this year said that infusion of up to Rs 400 crore will help it add up to 2 percentage points to the core capital buffer and the tier-I will go up to 13 per cent after the infusion.
Shares of DCB Bank closed 0.63 per cent down at Rs 181.85 on BSE.
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