Development Credit Bank (DCB), the private sector bank witnessed a rise in share price on Thursday after the bank said that in respect of the qualified institutional placement (QIP), the bank's Capital Raising Committee of the Board (CRC) at its meeting held on Wednesday Oct. 08, 2014 has approved the closure of the QIP.

The CRC has approved the issue price of Rs 82.15 a share which is at a discount of Rs 4.30 a share, to the floor price of Rs 86.45 a share, for the shares to be allotted to eligible qualified institutional buyers (QIBs) in the QIP.

Shares of the bank are trading at Rs 83.25, up Rs 2.5, or 3.10% at the Bombay Stock Exchange (BSE) on Thursday at 10:46 a.m.

The scrip has touched an intra-day high of Rs 83.35 and low of Rs 81.40. The total volume of shares traded at the BSE is 63,498.