Dena Bank To Sell 60.5 Lakh Shares In Three Entities

Dena Bank will sell a cumulative 60.5 lakh shares in three entities, including SIDBI, as part of the public sector bank’s strategy to hive off non-core assets.

The bank said it will float a request for quotation for purchase of equity shares in NSDL E-Governance Infrastructure Ltd., National Securities Depository Ltd. and Small Industries Development Bank of India

In January this year, public sector banks had adopted a reforms agenda under which they will prune non-core businesses to become leaner and improve their balance sheets. The objective is to deal with the issue of high non-performing assets in their books.

The Dena Bank stock closed at Rs 15.05 on BSE, up 0.33 percent from its previous close.