Dena Bank Plans To Raise Rs 1800 crore via QIP
Shital Jibhe / 02 Jun 2017
Dena Bank offers deposits and loans, internet banking, corporate banking facilities and international banking. Apart from these facilities, the bank’s business segment includes treasury operations, retail banking, corporate/wholesale banking, and other banking operations.
Public sector Dena Bank is planning to raise Rs 1800 crore via qualified institutional placement (QIP) of shares.
The bank said that the capital would be raised in one or more tranches by issuing various tier-I and II instruments.
As compared to its previous close of Rs 34.05 per share on Thursday, the bank opened with a gap up at Rs 34.55 per share during Friday’s trading session on the NSE.
The stock has delivered 17% in a period of one year and has underperformed the BSE small-cap and BSE Bankex over the same time period.
Dena Bank offers deposits and loans, internet banking, corporate banking facilities and international banking. Apart from these facilities, the bank’s business segment includes treasury operations, retail banking, corporate/wholesale banking, and other banking operations.
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