Dena Bank shares jump over 8% on fund raising plans

Dena Bank's scrip surged over 8 per cent today ahead of the company's board meeting on Thursday to consider fund raising plans.
Shares of the company advanced by 7.83 per cent to settle at Rs 45.45 on BSE. Intra-day, it soared 13.16 per cent to Rs 47.70.
At NSE, the stock climbed 8.32 per cent to end at Rs 45.55.
The company added Rs 213.7 crore to Rs 2,932.70 crore in market valuation.
Volume-wise, 13.68 lakh shares of the company changed hands at BSE and over 64 lakh shares were traded at NSE during the day.
Dena Bank today informed BSE that a meeting of Board of Directors of the company will be held on December 3, to consider raising Additional tier 1 (AT1) capital up to an amount of Rs 1,500 crore and tier 2 capital up to an amount of Rs 1,000 crore in one or more tranche, in one or more instruments.

The board will also consider raising equity capital of the bank by diluting government's holding up to 52 per cent, on obtaining necessary approval from the government.