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Public sector lender Dena Bank on Friday said it has raised ₹401.26 crore by issuing equity shares through the qualified institutional placement (QIP) route.
The Issue Committee of the board of directors of the bank at the meeting held during the day approved the closure of the QIP.
The Issue Committee approved the “issue price of ₹29.30 an equity share, with a discount of 5 per cent or ₹1.54 an equity share ... for an aggregate value of ₹401.26 crore, to be allotted to eligible qualified institutional buyers (QIBs) in the QIP,” the bank said in a regulatory filing.
Earlier this week, the bank had informed about price fixation for the QIP.
This is part of the bank’s June annual general meeting, in which it had decided to raise a sum of up to ₹1,800 crore within a period of one year in tranches. Shares of the bank closed 0.17 per cent up at ₹30.30 on the BSE.
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