Dena Bank to get Rs. 700 crore funds from Government of India

Government of India, vide letter dated October 22, 2013 conveyed its decision to infuse capital funds to the tune of Rs. 700 Crore in Dena Bank by way of Preferential Allotment.

The Board of Directors in its meeting held on November 09, 2013, approved the issue of Equity Shares to Government of India on preferential basis and issue of Equity Shares to others on preferential basis / Qualified Institutional Placement by Complying with relevant SEBI (ICDR) Regulations 2009.

Shares of Dena Bank was last trading in BSE at Rs.54.55, down by Rs.1.05 or 1.89%. The stock hit an intraday high of Rs.56.70 and low of Rs.54.15.

The total traded quantity was 10.62 lakhs as compared to 2 week average of 21.33 lakhs.

Source : Equity Bulls

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