DCB Bank allots 60.58 lakh shares to promoter Aga Khan Fund at a premium
DCBBANK · price
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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250 and 0.3 pts less than its Private Sector Bank peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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DCB Bank's board approved the allotment of 60,58,394 fully paid equity shares to promoter Aga Khan Fund for Economic Development S.A. at ₹137 per share, a ₹127 premium over the ₹10 face value. The promoter will pay about ₹83 crore. The shares have the same rights as existing shares and will be listed after approvals. Paid-up shares rise from 31.52 crore to 32.12 crore.
The promoter investment adds about ₹83 crore to bank capital, but existing shareholders face slight dilution from the new shares.