Dena Bank Plans To Mobilise Rs 1,800 Crore Through QIP

The leading public sector lender, Dena Bank plans to raise up to Rs 1,800 crore through a qualified institutional placement (QIP).

The bank’s annual general meeting took place on June 27, 2017. The shareholders voted on the proposal of creating, offering, issuing and allotting equity shares up to Rs 1,800 crore in a QIP.

Dena Bank was trading lower by 0.3% at Rs 33.50 per share at 0935 hours on BSE. It hit a high of Rs 33.60 and a low of Rs 33.10 during the morning session.

The stock has underperformed both BSE small-cap and BSE Bankex in a period of one year. Its closest peers include Andhra Bank and J&K Bank.

Dena Bank is a public-sector bank. Its segments include treasury operations, corporate/wholesale banking, retail banking and other banking operations.

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