Dhanlaxmi Bank board okays fundraising of ₹300 cr via NCDs; stock rises 9%
The fundraising aggregates to around ₹300 crore. The NCDs will be issued in one or more tranches over a period of time, subject to the approval of regulators/shareholders, as may be required.
Kerala-based Dhanlaxmi Bank on Monday received the board of directors' approval for fundraising to the tune of ₹300 crore through non-convertible debentures (NCDs) issuance in one or more tranches. On exchanges, there has been a strong buying in Dhanlaxmi Bank shares as they touched a new 52-week high. Overall, the stock has climbed by nearly 9% so far in the day.
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