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Dena Bank public issue opens Jan 24

Our Bureau

MUMBAI: Dena Bank's second public issue of eight crore shares aggregating Rs 216 crore is slated to open on January 24 and close on January 29.

The bank is entering the market to raise funds to augment its capital base to meet future capital adequacy requirements and augment long-term resources.

In its prospectus, Dena Bank said it has adjusted and written off an accumulated loss of 217.29 crore against revenue reserves on September 30, 2004. Enumerating its internal risks, the bank said its NPAs stood at Rs 884.35 crore as on March 31, 2004.

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