Country's largest insurer, Life Insurance Corporation of India (LIC) has acquired an over 4.5% stake in public sector lender Dena Bank through preferential allotment of shares over a period of nearly three months between May 23 to September 18.
Prior to this additional stake purchase, LIC held over 9.73% (96,705,466 shares) stake in Dena Bank. Thus, the current shareholding in Dena Bank by LIC has increased to over 14.25%, representing 141,571,168 shares.
Dena Bank is engaged in providing banking services. Its services include treasury, corporate/wholesale banking, retail banking, mobile banking, phone banking, internet banking, international banking, dena automated teller machine (ATM) services and visa bill pay etc.