05 May 07 DCB IPO / FPO
DCB is planning to come out with a follow-on public issue of 275 crores. The board of directors of development Credit Bank (DCB) informed the Indian stock exchanges on 3 May 2007 that the DCB board approved raising up to Rs. 275 crores through a share public issue or through other means.
DCB had earlier planned to raise Rs. 225 crores through a qualified institutional placement of DCB shares. This plan stands cancelled now. With liquidity crunch and implementation of BASEL – II norms, many banks are likely to tap the Indian capital market for raising funds.
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