Development Credit Bank - Outcome of Board Meeting

Posted By: Religare
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Development Credit Bank Ltd has informed BSE that the Board of Directors of the Bank at its meeting held on February 21, 2012, inter alia, has decided to open the proposed issue of equity shares of the face value of Rs 10 each of the Bank through a Qualified Institutions Placement (QIP) (the "Issue") in accordance with Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended.

Further the Bank has informed that February 21, 2012 has been fixed as the 'Relevant Date' for the purpose and hence the Floor Price is Rs. 47.84 per equity share The Issue will open on February 27, 2012.

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Story first published: Tuesday, February 21, 2012, 23:34 [IST]
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