Dena Bank To Raise Rs 1800 Cr Via QIP

Dena Bank, a public-sector bank is planning to mop up Rs 1800 crore via qualified institutional placement (QIP) of shares.

The bank said it will raise the capital in one or more tranches by issuing various tier-I and II instruments.

Dena Bank on the NSE during Friday’s trading session opened with a gap-up at Rs 34.55 per share as compared to its previous close of Rs 34.05 per share on Thursday.

The stock has delivered 17% in a period of one year. It has underperformed the BSE small-cap and BSE Bankex over the same time period.

Dena Bank’s business segments include treasury operations, corporate/wholesale banking, retail banking and other banking operations. The bank offers deposits and loans, and Internet banking, corporate banking facilities and international banking.

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About Suhani Varma

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