Dena Bank shareholders approve Rs 407-cr share issue to govt

Public sector Dena Bank today said its board has approved to issue equity shares worth Rs 407 crore to government.
The decision came at its Extraordinary General Meeting held in Mumbai today.
"...Shareholders approved the issue and allotment of up to 8,41,08,286 equity shares of face value of Rs 10 each to the Government of India, on preferential basis, for cash at issue price of Rs 48.39 per share including premium of Rs 38.39 per share aggregating up to Rs 407 crore," it said in release.
In August, government had announced capital infusion in 13 public sector banks, including PNB, SBI, IDBI, Bank of Baroda, Canara Bank and Dena Bank.

Government is to infuse a total of Rs 20,088 crore in these banks.
Shares of Dena Bank today closed at Rs 40.75 apiece on BSE, up 4.49 per cent from previous close.