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DCB Bank raises Rs 300 crore on private placement basis

DCB Bank has raised Rs 300 crore on private placement basis. The Capital Raising Committee (CRC) of Board of Directors of the Bank, by a resolution passed in the meeting held on November 18, 2017 has issued and allotted 30,000 Non-Convertible, Redeemable, Unsecured, Basel III Compliant Tier 2 Bonds, for inclusion in Tier 2 Capital of the Bank in the nature of debentures of the face value of Rs 1 lakh each (Bonds) at par aggregating to Rs 300 crore in dematerialized form to the identified investor(s) on private placement basis with interest of 9.85% per annum for a period of ten years from November 17, 2017 (the Deemed Date of Allotment).

DCB Bank is a scheduled commercial bank. The Bank's segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations. It has approximately 200 branches and approximately 410 automated teller machine (ATM) centers.

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