DENA BANK PLANS TO RAISE RS.1300 CR.

Mr. D.L. Rawal, Chairman and Managing Director, Dena Bank says that the bank aims to raise Rs.1300 crore capital over the next three years, of which Rs.600 crore will be raised by March. Out of the total capital, Rs.300 crore will be through equity route and the rest by way of preferential share issue. Upon equity infusion, Government stake in the bank will increase to 58.9% from 51%. The bank also plans to consider a follow-on Public Issue after the equity infusion, enabling the Government to bring down its stake.

As on September 30, the bank's capital adequacy ratio stood at 11.59% and 13.26% for Tier-I and Tier-II norms respectively.

Source: http://www.thehindubusinessline.com/blnus/17121401.htm