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Dena Bank planning to raise up to Rs 1,800 cr via QIP

The QIP will close on October 13

Press Trust of India  |  New Delhi 

illuIllustration: Ajay Mohantystration: ajay mohanty
Illustration: Ajay Mohanty

State-owned is planning to raise up to Rs 1,800 crore through private placement of to institutional investors.

The issue committee of the bank has fixed floor price of Rs 30.73 per share, said in a regulatory filing today.

The bank may at its discretion offer a discount of up to 5 per cent on the floor price in the (QIP), it said.

However, it did not specify the number of to be offered for the or the total amount to be raised from the share sale.

The will close on October 13.

After the annual general meeting in June this year, the bank had said shareholders had voted on the proposal of creating, offering, issuing and allotting of up to Rs 1,800 crore in a

"The issue committee of the board will consider various aspects to decide the time, number of shares to be issued and number of tranches," it had said.

First Published: Wed, October 11 2017. 21:49 IST