Dena Bank allots Equity Shares to LIC of India & GIC of India on preferential basis

The Issue Committee of the Board of Dena Bank at its meeting held on March 26, 2014 allotted 5,32,98,053 and 1,58,76,015 Equity Shares of Rs. 10/- each at a premium of Rs. 42.91 per share to LIC of lndia and GIC of lndia, respectively on preferential basis. Consequent upon this issue, the Subscribed and Paid-up Capital of the Bank is increased to Rs. 537,81,63,650 and Government of lndia holding will be at 58.01%.

The Equity shares so allotted shall rank pari-passu with the existing equity shares of the Bank including Dividend, if any and will be locked in for a period of one year from the date of trading approval received from stock exchanges, as per the SEBI (ICDR) Regulations, 2009.

Shares of DENA BANK was last trading in BSE at Rs.58.1 as compared to the previous close of Rs. 57.35. The total number of shares traded during the day was 322378 in over 2485 trades.

The stock hit an intraday high of Rs. 58.8 and intraday low of 57.35. The net turnover during the day was Rs. 18769250.

Source : Equity Bulls

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