Khaitan & Co advised DCB Bank on the private placement of non-convertible, redeemable, unsecured, Basel III compliant Tier 2 Bonds, in the nature of debentures, for inclusion in the Tier II capital for a total issue size aggregating up to INR 100 crores ($14.6m approximately) with an option to retain over-subscription aggregating up to INR 50 crores aggregating to a total issue size of INR 150 crores ($22m approximately).
Nikhilesh Panchal (partner), Vaibhav Mittal (principal associate) and Aayush Mohata (associate) represented the client on the transaction.
DCB Bank is a modern emerging new generation private sector scheduled commercial bank in India with more than 200 branches across 18 states and two union territories. It offers products to individuals, small and medium businesses, rural banking and mid corporates across its branch network.
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