Friday, Jan 21, 2005
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By Our Corporate Reporter
CHENNAI, JAN. 20. Dena Bank, a mid-size public sector bank, is entering the capital market with its second public issue of 8 crore equity shares of Rs. 10 each at a premium of Rs. 17 per share aggregating to Rs. 216 crores. The issue will be open for public subscription from January 24 to 29. Addressing presspersons here, today in connection with this public issue, M. V. Nair, Executive Director of the bank, said the objective of the issue was to meet future capital adequacy requirements and augment long term resources of the bank. The capital adequacy was 6.02 per cent in March 2003 and has risen to 10.28 per cent in September 30, 2004, Mr. Nair said. The bank had recorded a healthy growth in business and the ratio of net non performing assets to net advances of the bank had come down to 7.85 per cent in September 30, 2004 from 16.31 per cent on March 31, 2002.
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