Dhanlaxmi Bank board okays fundraising of ₹300 cr via NCDs; stock rises 9%

Kerala-based Dhanlaxmi Bank on Monday received the board of directors' approval for fundraising

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.

As per the regulatory filing, the board of directors in a meeting held on December 5

has inter alia considered and approved the raising of funds by the bank by way of issuance of non-convertible debentures (NCDs) in the form of Basel III Tier 2 bonds.

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