LIC to pick 5% stake in Dena Bank

LIC to pick 5% stake in Dena Bank

Reuters / Mumbai February 06, 2012, 15:28 IST

State-run Dena Bank Ltd.'s board has approved a preferential allotment of shares to Life Insurance Corp., a top official of the lender said.

Life Insurance Corp. will hold 5% stake in Dena Bank post allotment, Sudhir Kumar Jain, general manager treasury, Dena Bank said on Monday.