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Dena Bank plans to raise Rs 1,800 crore via QIP

Dena Bank is planning to mop up Rs 1,800 crore via qualified institutional placement (QIP) of shares. The bank will place the proposal to ‘create, offer and allot equity shares up to Rs 1,800 crore at such an issue price to be determined by the Issue Committee of the Board as QIP’ before shareholders at the annual general meeting to be held on June 27. The bank will raise the capital in one or more tranches by issuing various tier-I and II instruments.

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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