Development Credit Bank (DCB) will be augmenting its Tier-I capital by issuing additionally 93 lakh equity shares of Rs. 10 each at a premium of Rs. 33.68 on a preferential basis. WCP Holdings III, an existing shareholder with 2.55 per cent stake, will be subscribing to 56 lakh equity shares of the bank.
The balance 37 lakh shares will be allotted to Tano Mauritius India FVCI II, an FII which holds 3.42 per cent in the existing equity capital of the bank.
The issue is subject to regulatory and shareholder approval, the bank said in a release. After the completion of the issue, the shareholding of the promoters Aga Khan Fund for Economic Development (AKFED) and Platinum Jubilee Investments (promoter group) will come down to 18.48 per cent from 19.20 per cent, the release added.
Keywords: Development Credit Bank