dcb bankDCB Bank right now mentioned it has raised Rs 379 crore by qualified institutional placement (QIP) to fund enterprise progress.

As of March 31, DCB bank‘s Capital Adequacy Ratio (CAR) was at 13.76 % (of which Tier I capital was 11.87 % and Tier II was 1.89 per cent) as per Basel III norms, that’s, earlier than the QIP.

The promoter holding within the enhanced capital base of the bank now stands at roughly 15.04 %, DCB Bank mentioned in a press release.

“The capital raising is in keeping with the business plans. The bank is assured of reaching regular progress within the coming years,” it added.

The bank had bought 2.17 crore recent equity shares to institutional investors at Rs 174 per share final week.