Dhanlaxmi Bank zooms on getting nod to raise Rs 300 crore via NCDs

Dhanlaxmi Bank is currently trading at Rs. 19.35, up by 0.90 points or 4.88% from its previous closing of Rs. 18.45 on the BSE.

The scrip opened at Rs. 18.60 and has touched a high and low of Rs. 20.05 and Rs. 18.10 respectively. So far 1603183 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 20.05 on 05-Dec-2022 and a 52 week low of Rs. 10.50 on 16-Jun-2022.

Last one week high and low of the scrip stood at Rs. 20.05 and Rs. 14.70 respectively. The current market cap of the company is Rs. 497.17 crore.

The Institutions and Non-Institutions held 11.69% and 88.30% stake in the Bank.

Dhanlaxmi Bank has received an approval for raising funds by way of issuance of Non-Convertible Debentures (NCDs) in the form of Basel III compliant Tier 2 Bonds aggregating to Rs 300 crore in one or more tranches over a period of time, subject to approval of Regulators/ Shareholders, as may be required.

The Board of Directors at its meeting held on December 05, 2022, has inter alia considered and approved the same.

Dhanlaxmi Bank was incorporated in 1927 by group of entrepreneurs at Thrissur located in Kerala. Bank’s focus has always been on customizing services and personalizing relations.