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Dena Bank plans to raise up to Rs.1,800 cr via QIP

Dena Bank plans to raise up to Rs.1,800 crore via private placement of shares to institutional investors.

In a regulatory filing Dena Bank stated, the issue committee of the bank has kept floor price of Rs 30.73 per share and bank may offer a discount of up to 5% on the floor price in the qualified institutional placement(QIP), at its discretion.

Further, it did not mention the number of shares to be offered for QIP or the total amount to be raised from the share sale.

The QIP will close on October 13.

Read EquityPandit’s Technical Analysis on Nifty Bank


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