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DCB raises Rs 81 cr through QIP issue
Development Credit Bank (DCB) today said it raised Rs 81 crore by private placement of shares with qualified buyers. After the qualified institutional placement (QIP), the promoter group’s — Aga Khan Fund of Economic Development (AKFED) — holding in DCB came down to 23.11 per cent from 26.22 per cent earlier, Development Credit Bank said in a filing with the Bombay Stock Exchange.

Hry power project to be synchronised with grid
The first unit of the 2x600 Mw Rajiv Gandhi Thermal Power Project (RGTPP) at Khedar in district of Haryana will be synchronised with the grid today in a record period of 35 months, thus breaking all previous records in project implementation.

News of the day

Andhra Bank seeks nod for LIC trail commission
Andhra Bank, whose insurance venture with Bank of Baroda and Legal & General was launched today, has approached the regulator to protect the trail commission it stands to earn from its distribution tie-up with Life Insurance Corporation of India (LIC).
Corporate

City Union Bank to raise Rs 300cr

City Union Bank will raise Rs 300 crore by way of private placement of shares with qualified institutional buyers. - Axis Bank announces Somnath Sengupta as ED, CFO - Banks wash off hands of delayed, faulty mobile, email alerts - India owes $82.5 billion to foreigners: RBI - Banking sector tops m-cap rankings - BoM slashes home loans interest rates - NCR to open 3,800 ATMs for SBI Shareholders of the bank in August had approved a proposal to raise Rs 300 crore by allotting shares to potential buyers, City Union Bank said in a filing to the Bombay Stock Exchange today. The proposed private placement would be completed within 12 months from the date of the resolution passed, the filing added. Shares of City Union Bank were trading at Rs 29.65 on the BSE, down 1.50 per cent from previous close.


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