Rs 180cr Dena Bank Issue Cleared

Confirming this, Dena Bank CMD Ramesh Misra told Business Standard, with the Sebi okay, we have received all the regulatory clearances. We plan to hit the market in the last week of October.

According to Sebi officials, the regulatory authority has called for some minor clarifications on the bank's projections for 1996-97, the risk factors indicated and performance highlights. However, these are minor issues and will in no way jeopardise the bank's plan to enter the market, officials said.

The other public sector bank awaiting the Sebi nod to enter the market is Bank of Baroda. BoB received the Centre's green signal to restructure its balance sheet this week.

 

Along with BoB, the Centre has allowed Canara Bank and Corporation Bank to return the recapitalisation funds while Bank of India, Dena and three others were allowed to write off their accumulated losses. However, barring Dena no other bank has got Sebi permission to enter the market.

Dena will market its shares - to be listed in Bombay and Ahmedabad Stock Exchanges and National Stock Exchange