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Dena Bank gets nod to raise Rs 1,800 crore

Dena Bank has received its board’s approval to raise CET1 capital up to an amount of Rs 1,800 crore in one or more tranche. The company’s board gave approval for the same at its meeting held on May 09, 2017.

The company will raise the same by issue of equity shares to Government of India (GOI) on preferential basis, if any and/or by issue of equity shares to others through FPO / Rights Issue / Preferential Issue / Qualified Institutional Placement (QIP), etc. by diluting GOI holding up to 52% at appropriate time.

Dena Bank is engaged in providing banking services. Its services include treasury, corporate/wholesale banking, retail banking, mobile banking, phone banking, internet banking, international banking, dena automated teller machine (ATM) services and visa bill pay etc.

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