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Dena Bank Raises Rs. 401 cr. Via QIP
October 16, 2017
Public sector Dena Bank said that it has raised Rs. 401.26 crores via the QIP (Qualified Institutional Placement) route with the issuance of equity shares. The closure of the QIP was approved by the bank’s issue committee this Friday at a meeting.
In a recent regulatory filing, the bank said that the committee approved the issue price of Rs29.30 per equity share, with a discount of 5% or Rs1.54 per equity share for an aggregate value of Rs. 401.26 crores. However, the same was allotted to only eligible QIBs (Qualified Institutional Buyers).
