India's Dena Bank has set the floor price of its proposed qualified institutional placement at 30.73 rupees per share.
The lender plans to raise up to 18 billion rupees through a share sale. The offer opened Oct. 10, the bank said in a same-day stock exchange filing, adding that it may offer a discount of up to 5% on the floor price.
The bank will close the offer and determine the issue price Oct. 13.
As of Oct. 11, US$1 was equivalent to 65.16 Indian rupees.