Oman India Joint Investment Fund II buys 1.63% stake in DCB Bank

Photo: Reuters

Oman India Joint Investment Fund II (OIJIF) on Wednesday said it has acquired 5.07 million shares or 1.63% stake in Mumbai based DCB Bank through a block trade on stock exchanges. The stake is valued at 42 crore.

OIJIF, a private equity fund backed by State Bank of India (SBI) and State General Reserve Fund of Oman (SGRF), purchased 50,69,903 shares of DCB Bank through a bulk deal, according to information available with the stock exchanges.

The shares were purchased at an average price of 81.90 valuing the transaction at 41.52 crore, data showed.

DCB Bank reported a 28% decline in net profit at 69 crore for the March quarter against a net profit of 96 crore in the same period of 2018-19.Net Interest Income during the January-March quarter of FY20 rose by 7.59% to 323.71, over 300.87 crore in the same period of the preceding fiscal.

Shares of DCB Bank Ltd closed at 81.90, up 1.55% on the NSE, while the benchmark index, Nifty gained 0.06% to 11,101.65 points.

The article was first published on livemint.com

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.