DCB Board to consider fund raising proposal

Development Credit Bank Ltd (DCB) has announced that at the Board Meeting held on May 03 & 04, 2007, the Board had approved raising up to Rs 275 crores by means of private placement and/or preferential issue and/or rights and/or ADR/GDR and/or any other financial instruments. A meeting of the Board of Directors of the Bank will be held on July 10, 2007 to consider in supersession of the resolution referred above, raising an amount upto Rs 310 crore by way of preferential issue.

Source : Equity Bulls

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