Dena Bank to consider Issuance of Equity Shares to Government of India on preferential basis

Dena Bank to consider Issuance of Equity Shares to Government of India on preferential basisThe Government of India, Ministry of Finance vide letter dated August 19, 2015 has conveyed its decision to infuse capital funds to the tune of Rs. 407 crore (Four Hundred and Seven Crore) in Dena Bank by way of preferential allotment of equity in favour of the Government of India.

The Board vide circular resolution dated August 20, 2015 has, given approval for raising of Equity Share Capital of the Bank upto Rs. 407 cr by issuance of Equity Shares to GOI on Preferential basis at price fixed as per SEBI (ICDR) Regulations, 2009.

Further, Bank is taking necessary steps / approvals in this regard.

Shares of DENA BANK was last trading in BSE at Rs.43.55 as compared to the previous close of Rs. 44.55. The total number of shares traded during the day was 113095 in over 698 trades.

The stock hit an intraday high of Rs. 44.1 and intraday low of 43. The net turnover during the day was Rs. 4914823.

Source : Equity Bulls

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