Development Credit Bank approves allotment of 93 lakh shares

The Capital Raising Committee (CRC) of the Board of Directors of Development Credit Bank Ltd in its meeting held on December 19, 2012 has approved the allotment of 93,00,000 equity shares of Rs. 10/- each for cash at a Premium of Rs. 33.68 per share in terms of the Special Resolution passed by the shareholders at the Extra Ordinary General Meeting of the Bank held on December 10, 2012 and subject to Lock-in for one year from the date of allotment (December 19, 2012).

The Development Credit Bank Ltd stock closed the day at Rs.51, up by Rs.0.55 or 1.09%. The stock hit an intraday high of Rs.51.95 and low of Rs.50.75.

The total traded quantity was 10.57 lakhs compared to 2 week average of 13.33 lakhs.

Source : Equity Bulls

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