Dena Bank, Andhra Bank sell additional stake to LIC

March 30, 2016 16:02

In other news, public sector lender Dena Bank has raised Rs 65 crore by issuing over 2 crore shares to LIC on preferential basis. Andhra Bank also said it has sold over 4.23 per cent stake to LIC on a preferential allotment, without disclosing the amount. Post the acquisition of additional shares in Dena Bank, LIC's stake in the lender has gone up to 14.5 per cent from 11.63 per cent earlier, Dena Bank said in a regulatory filing today.

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