DCB Bank announces raising bonds worth Rs. 150 crore

DCB Bank on Monday announced raising Rs. 150 crore through the issuance of bonds.

The capital raising committee of the board of directors of the bank, in a meeting held on January 15, 2018 have issued and allotted 15,000 non-convertible, redeemable, unsecured, Basel III compliant tier 2 bonds, aggregating to Rs. 150 crore on private placement basis, said the bank in a regulatory filing.

The bonds have been rated “CRISIL A+/stable” by CRISIL Ltd. and carry an interest rate of 9.85 per cent per year for a period of 10 years from January 12, 2018.

DCB Bank is a scheduled commercial bank regulated by the Reserve Bank of India. The bank has 310 branches across 19 states and 3 union territories.

At 11:45 hrs, DCB Bank was trading at Rs. 202.40 per share, up Rs 1 or 0.50 per cent on NSE. The scrip opened at Rs. 201.00 and touched a high and low of Rs. 204.30 and Rs. 200.10 per share, respectively, on NSE. The stock attracted a traded volume of 11,45,163 shares on NSE.