Dena Bank fixes issue price of Rs. 59.03 to Government of India

The Board of Directors of Dena Bank has on November 09, 2013 approved the issuance of Equity Shares to Government of India on preferential basis, by complying with relevant SEBI (ICDR) Regulations 2009 and further communication dated November 25, 2013 vide which the Company had informed that an Extraordinary General Meeting of the shareholders of the Bank will be held on December 24, 2013 at 10.30 A.M. at Auditorium, Sir Sorabji Pochkhanawala Bankers' Training College, J.V.P.D. Scheme, Vile Parle (West), Mumbai-400056 to transact the business as detailed in the Notice.

The Issue Committee of the Board of Directors of Dena Bank at its meeting held on November 29, 2013 has fixed the issue price of Rs. 59.03 per equity share {including premium of Rs. 49.03 per equity share) determined as per Regulation 76(1) of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009. Accordingly the Bank will be able to create, offer, issue and allot 11,85,83,770 (Eleven Crore Eighty Five Lac Eighty Three Thousand Seven Hundred Seventy) Equity Shares of Rs. 10/- to Government of India at an issue price of Rs. 59.03 (Rupees fifty nine and paise three only).

Shares of Dena Bank was last trading BSE at Rs.55.85, up by Rs.0.45 or 0.81%. The stock hit an intraday high of Rs.56.15 and intraday low of Rs.55.10.

The total traded quantity was 6.03 lakh shares as compared to 2 week average of 7.57 lakh shares.

Source : Equity Bulls

Keywords