According to the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In the case of Dena Bank, its shareholders will get 110 shares of BoB for every 1,000 shares. … Shares of the company closed 3.14 per cent up at Rs 132.85 on BSE.
The banks getting merged will be suspended from trading on the ex-date (one trading day before the record date). The shares of the transferee bank may take 15-20 days to get credited to your demat account by the RTA.
What is the new name of Dena Bank?
All branches of Vijaya Bank and Dena Bank have now become Bank of Baroda branches. Bank of Baroda (BoB) said on December 20 that it had completed the integration/migration of 3,898 branches of Vijaya Bank and Dena Bank. Vijaya Bank and Dena Bank were merged with Bank of Baroda with effect from April 1, 2019.
Who bought Dena Bank?
Vijaya Bank and Dena Bank were merged with Bank of Baroda with effect from 1 April 2019. The bank said all customers will now have access to a total of 8,248 domestic branches and 10,318 ATMs across the country.
With the amalgamation, the branches of both Vijaya and Dena Bank would function as the branches of the BoB. aforesaid equity shares will either be credited to the demat accounts or share certificates will be dispatched to the eligible shareholders of Vijay Bank and Dena Bank,” BoB said in a regulatory filing.
If the buyout is an all-cash deal, shares of your stock will disappear from your portfolio at some point following the deal’s official closing date and be replaced by the cash value of the shares specified in the buyout. If it is an all-stock deal, the shares will be replaced by shares of the company doing the buying.
What companies are merging in 2021?
Largest Merger & Acquisition ( M&A) Deals
|Acquiring Company||Acquired Company||Announced Year|
|Duddell Street Acquisition Corp.||FiscalNote Holdings||November, 2021|
|Hershey||Dot’s Homestyle Pretzels||November, 2021|
Is Dena Bank closing down?
Dena Bank was a government-owned that in 2019 merged with Bank of Baroda.
|Formerly||Devkaran Nanjee Banking Company Ltd|
|Defunct||1 April 2019|
|Fate||Merged with Bank of Baroda|
|Successor||Bank of Baroda|
Why did Dena Bank merged?
The merger will provide customers of all three banks access to a larger number of branches, ATMs and other services. With an increased market share, the economies of scale will improve and Bank of Baroda is expected to become more profitable.
What will happen to my Dena Bank account?
Your account will not be closed, and you will not lose money. It will just become a bank account of the new entity. Once the merger is completed, your bank will inform you about the cheque books, passbook, card, etc changes. This will all be free of cost.
Is Dena Bank Safe?
Its safe and secured more over my branch is located near to my residence. My salary account is with Dena Bank and the customer service is very much satisfactory. If I visit the branch withdraw money because ATM’s are limited and not working in proper condition and the response was convenient.
How good is Bank of Baroda?
More BANK OF BARODA Reviews. 0.5 4.0/5 “Great!” … Their service was really good and timely responded for my loan application. BOB offered an interest rate was normal .
According to the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In the case of Dena Bank, its shareholders will get 110 shares of BoB for every 1,000 shares.