Shares of DCB Bank jumped over 8% touching to Rs. 132, after RBI grants its approval to Tata Asset Management Company (AMC) to increase stake within the non-public zone lender up to 7.5%.
DCB Bank acquired an intimation from RBI on July five, 2023, that it has granted its approval to Tata Asset Management Pvt. Ltd (TAMPL) to gather mixture protecting of as much as 7.Five% of the paid-up equity capital of the Bank thru the schemes of Tata Mutual Fund.
The approval is valid for a duration of one year from the date of RBI letter.
TAMPL is likewise cautioned by using the RBI to make certain that its mixture shareholding within the Bank shall now not exceed 7.Five% of the paid-up capital of the Bank always.
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