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Dena Bank, Vijaya Bank shares slide after three-way merger

Jan 03, 2019 12:37 IST

Shares of Dena Bank and Vijaya Bank plunged on Thursday as investors gave a thumbs down to the swap ratios prescribed for the Bank of Baroda merger. Bank of Baroda announced that shareholders of Vijaya and Dena Bank will receive 402 and 110 equity shares of BoB respectively for every 1,000 shares held. Dena Bank shares dropped close to 20% while Vijaya Bank shares dropped 7.4 % However, Bank of Baroda shares traded firm on news of the merger.