Dena Bank raises Rs 125 crore

Dena Bank has announced that the Bank has raised Tier- I Capital funds as Perpetual Bonds (IPDI Series II) for an amount of Rs 125 crores, to augment long term resources of the Bank and to meet its future Capital Adequacy Ratio requirements, in the nature of Promissory Notes on Private Placement Basis. The Bonds are carrying a coupon of 9.00% p.a. payable annually.

The issue was opened on May 20, 2009 and closed on May 26, 2009. The issue was fully subscribed aggregating to Rs 125 crore. The Bank received and retained subscription of Rs 125 crores.

The stock closed the day at Rs.50.80, up by Rs.0.90 or 1.80%. The stock hit an intraday high of Rs.52 and low of Rs.50.10.

The total traded quantity was 508642 compared to 2 week average of 1034555.

Source : Equity Bulls

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