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Dena Bank raises 4.01B rupees in share sale

India's Dena Bank raised 4.01 billion rupees through the issuance of equity shares in a qualified institutional placement.

The bank said Oct. 13 that its board approved the issue price of 29.20 rupees per share, which represents a discount of 5% to the floor price of 30.73 rupees per share.

As of Oct. 13, US$1 was equivalent to 64.72 Indian rupees.