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Dena Bank has raised Rs 65 crore through issuing over 2 crore shares to LIC on preferential basis.
Andhra Bank has also, without disclosing the amount, sold over 4.23 percent stake to LIC on a preferential allotment.
Dena Bank has said in a regulatory filing that post the acquisition of additional shares in Dena Bank, LIC’s stake in the bank has went up to 14.5 percent from 11.63 percent earlier.
“Upon receipt of funds from LIC, the Issue Committee of the Board of Bank at its meeting held on March 30, has allotted 2,16,76,267 equity shares of Rs 10 each at a premium of Rs 19.92 per share amounting to Rs 64.86 crore to LIC of India, on preferential basis.”
Moreover, Andhra Bank has also sold over 4.23 percent stake which is equivalent to 28,853,210 shares to LIC on a preferential allotment.
The price per unit at which the shares have been sold by the Andhra Bank to LIC was not disclosed.
