Dena Bank allots 120215633 Equity Shares to Government of India on Preferential Basis

The Issue Committee of the Board at its meeting held on October 03, 2016 has allotted 12,02,15,633 Equity Shares of Rs.10/- each at the Issue Price of Rs.37.10 per equity share to President of India (Government of India) on preferential basis, aggregating upto Rs.446 crore subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on September 22, 2016 and the approval of Government of India under Section 3(2B)(c) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 to increase the paid-up capital vide letter dated October 03, 2016.

With this allotment, the Subscribed and Paid-up Capital of the Bank gets raised to Rs.787.15 crore consisting of 78,71,49,884 equity shares of Rs.10/- each and shareholding of Government of India in the Bank has increased from 62.89% to 68.55%.

Shares of DENA BANK was last trading in BSE at Rs.38.7 as compared to the previous close of Rs. 37.5. The total number of shares traded during the day was 235609 in over 1474 trades.

The stock hit an intraday high of Rs. 39.1 and intraday low of 37.4. The net turnover during the day was Rs. 9021147.

Source : Equity Bulls

Keywords