State-run Dena Bank is looking at to raise Rs 1,300 crore capital over the next three years, out of which Rs 600 crore will be raised by March, a top official today said.
Out of the total capital proposed to raise, Rs 300 crore will be through the equity route and the rest Rs 1,000 crore will be raised by way of preferential share issues, Dena Bank, Chairman and Managing Director, D L Rawal told reporters here.
The government stake in the bank will rise to 58.9 per cent from 51 per cent upon the equity infusion.
The bank also have plans to consider a follow-on-public issue after the equity infusion, enabling the Government to bring down stake, Rawal said.
As on September 30, the bank's capital adequacy ratio stood at 11.59 per cent and 13.26 per cent for tier-I and tier-II norms respectively.
Dena Bank expects to achieve a 24 per cent credit growth over the next three years after augmenting its capital base, Rawal said.
