Follow Us:
Wednesday, July 18, 2018

Govt injects capital in Dena Bank, Allahabad Bank

The government has infused Rs 700 crore in Dena Bank and Rs 400 crore in Allahabad Bank through a preferential share allotment route.

Written by Press Trust Of India | New Delhi | Published: December 27, 2013 2:21:59 am

The government has infused Rs 700 crore in Dena Bank and Rs 400 crore in Allahabad Bank through a preferential share allotment route.

The bank has allotted 11.85 crore shares of Rs 10 each to Government of India on preferential allotment basis at a price of Rs 59.03 per share,Dena Bank said in a statement.

The government has infused a capital of Rs 699.99 crore towards issuance and allotment of equity shares on preferential basis. Post capital infusion,the paid-up capital of the bank has increased from Rs 350.05 crore to Rs 468.64 crore and government’s holding in the bank has increased from 55.24 per cent to 66.57 per cent,it said.

Allahabad Bank in a filing to the BSE said it has allotted 4.45 shares of face value of Rs 10 each for cash at an issue price of Rs 89.72 per equity share on preferential basis to the government.

For all the latest News Archive News, download Indian Express App

Advertisement
Advertisement
Advertisement