Dena Bank allots 11,85,83,770 Equity shares to Government of India on preferential basis

The Issue Committee of the Board of Dena Bank at its meeting held on December 26, 2013 has allotted 11,85,83,770 Equity Shares of Rs.10/- each at a premium of Rs. 49.03 per share to President of India (Government of India) on preferential basis. Consequent upon this issue, the Subscribed and Paid-up Capital of the Bank gets raised to 468,64,22,970 Equity Shares and Government of India holding gets increased to 66.57% from 55.24%.

The Equity shares so allotted shall rank pari-passu with the existing equity shares of the Bank including Dividend, If any and will be locked in for a period of 3 years from the date of trading approval, as per the SEBI (ICDR) Regulations, 2009.

Shares of Dena Bank was last trading BSE at Rs.63.25, up by Rs.1.65 or 2.68%. The stock hit an intraday high of Rs.64 and intraday low of Rs.62.50.

The total traded quantity was 9.47 lakh shares as compared to 2 week average of 6.49 lakh shares.

Source : Equity Bulls

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