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Dena Bank raises 4.46B rupees via share issuance to Indian government

DenaBank said it raised 4.46 billion Indian rupees from the issuance of120,215,633 equity shares to the government of India on a preferential basis.

The shares were issued at 37.10 rupees per share.

The issuance boosted the subscribed and paid up capital ofthe bank to 7.87 billion rupees. With the issuance, thegovernment's shareholding in the bank increased to 68.55% from 62.89%,the bank said.

As of Oct. 3, US$1 wasequivalent to 66.52 Indian rupees.