Dena Bank proposes to sell its shares in NSDL, SIDBI

The stock prices of Dena Bank went up by 5 per cent on Wednesday as the bank plans to sell 60.5 lakh shares in three entities, NSDL E-Governance Infrastructure Ltd, National Securities Depository Ltd and SIDBI.

Dena Bank has proposed to sell 6.25 equity shares of face value Rs. 10 of NSDL E-Governance Infrastructure Ltd. The stocks of National Securities Depository Ltd. (NSDL) is to be sold in two lots, 2.25 lakh equity shares for a face value of Rs. 10 in one lot and 4 lakh equity shares in the second lot for Rs. 10 face value. The third entity is SIDBI, 48 lakh equity shares of face value Rs. 10 is also being sold by Dena Bank. The bank is thus floating a Request for Quotation (RFO) for the purchase of these equity shares.

The stock hit an intraday high of Rs. 15.85 per share and an intraday low recorded at Rs. 15.15 per share on the BSE. The 52-week high is Rs. 36.10 per share and 52-week low is Rs. 14.80 on the BSE.

At 11:43 hours, the stock was trading at Rs. 15.55 per share, up by 3.32 per cent. BSE Sensex was trading at 35,413 level, up by 0.10 per cent and Nifty50 at 10,709 level, up by 0.09 per cent.