The government, on Thursday, infused Rs.700 crore and Rs.400 crore in Dena Bank and Allahabad Bank, respectively, through the preferential share allotment route.

Dena Bank has allotted 11.85 crore shares of Rs.10 each to the government on a preferential allotment basis at a price of Rs.59.03 a share, the bank said in a statement.

Accordingly, it said, the government has infused a capital of Rs.699.99 crore towards issuance and allotment of equity shares on a preferential basis. Post capital infusion, the paid-up capital share capital of the bank has increased from Rs.350.05 crore to Rs.468.64 crore and the government’s holding in the bank has increased from 55.24 per cent to 66.57 per cent, it said.

Allahabad Bank in a filing to the BSE said it had allotted 4.45 shares of the face value of Rs.10 each for cash at an issue price of Rs.89.72 a share on a preferential basis to the government. The government has infused Rs.400 crore in the bank.

Subsequently, the government holding in the bank increased to 58.90 per cent from 55.24 per cent.

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