Development Credit Bank to list on Oct 27

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Development Credit Bank, one of India's private sector bank promoted by the Switzerland-based Aga Khan Fund for Economic Development, AKFED, headquartered in Mumbai, will list on stock exchanges on October 27, 2006.

The offer price was fixed at Rs 26 per share. Its BSE ID is 532772 and NSE ID is DCB.

The company entered in the capital market with an initial public issue of 7,15,00,000 equity shares of Rs 10 each. The issue was subscribed 35.68 times.

The issue would help the bank strengthen its capital base as also help it meet the capital adequacy norms required by Basel II and recommended by the Reserve Bank of India.
 
The book running lead managers to the issue were JM Morgan Stanley Private Limited and Enam Financial Consultants Private Limited. Intime Spectrum Registry Limited had been appointed as the registrar to the issue.