Tatas to pick up stake in Development Credit Bank

Tata Capital Ltd and Tata Investments would jointly pick up a 4.5 per cent stake in Development Credit Bank (DCB) for around Rs 85 crore, a bank official said. The bank would make a preferential allotment of shares to five specific group of inv estors, including the Tatas, for Rs 300 crore, DCB Managing Director and CEO Gautam Vir told reporters here on Monday. Other investors, who would be allotted shares are Al Bateen of Abu Dhabi (4.5 per cent), Lehman Brothers arm, Marc Faber and SVG.

Following the issue, the bank's capital adequacy ratio (CAR) would increase from 10.5 per cent to 17.7 per cent.

(Source: Business Line)