Home >Industry >Dena Bank gets Rs243 crore from govt
The amount has been kept as share application money by Dena Bank and would be issued after necessary approval/permissions. Photo: Hemant Mishra/Mint
The amount has been kept as share application money by Dena Bank and would be issued after necessary approval/permissions. Photo: Hemant Mishra/Mint

Dena Bank gets Rs243 crore from govt

Dena bank has received infusion of Rs243 crore from the government towards contribution of central government in the preferential allotment of equity shares

New Delhi: State-run Dena Bank on Saturday said it has received capital infusion of Rs243 crore from the government.

“The bank has on December 29 received infusion of 243 crore from the Government of India, towards contribution of central government in the preferential allotment of equity shares," Dena Bank said in a BSE filing.

According to the statement, the amount has been kept as share application money and would be issued after necessary approval/permissions. The bank said that the board approval for the same is already in place.

This is within the approval of board obtained on 9 May 2017 for raising CET1 capital amount of Rs1,800 crore in one or more tranche. The government had on 24 October unveiled a Rs2.11 trillion two-year roadmap for strengthening non-performing assets (NPA)-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.

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