Dena Bank gains on raising Rs 401.26 crore via QIP

17 Oct 2017 Evaluate

Dena Bank is currently trading at Rs. 30.35, up by 0.05 points or 0.17% from its previous closing of Rs. 30.30 on the BSE.

The scrip opened at Rs. 30.10 and has touched a high and low of Rs. 30.50 and Rs. 30.10 respectively. So far 46604 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 50.00 on 09-May-2017 and a 52 week low of Rs. 30.00 on 12-Oct-2017.

Last one week high and low of the scrip stood at Rs. 31.70 and Rs. 30.00 respectively. The current market cap of the company is Rs. 3010.10 crore.

The promoters holding in the company stood at 70.04%, while Institutions and Non-Institutions held 19.16% and 10.79% respectively.

Public sector lender Dena Bank has raised Rs 401.26 crore by issuing equity shares through the qualified institutional placement (QIP). The Issue Committee of the board of directors of the bank at the meeting held on October 13 approved the closure of the QIP.

The Issue Committee approved the issue price of Rs 29.30 an equity share, with a discount of 5 per cent or Rs 1.54 an equity share for an aggregate value of Rs 401.26 crore, to be allotted to eligible qualified institutional buyers (QIBs) in the QIP.

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.

Peers
Company Name CMP
SBI 820.50
Bank Of Baroda 251.20
Canara Bank 102.65
PNB 97.85
Union Bank Of India 117.10
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