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Indian Overseas Bank gains on getting nod to raise funds via preferential allotment route

19 May 2017 Evaluate

Indian Overseas Bank is currently trading at Rs. 28.10, up by 0.10 points or 0.36% from its previous closing of Rs. 28.00 on the BSE.

The scrip opened at Rs. 28.00 and has touched a high and low of Rs. 28.20 and Rs. 27.85 respectively. So far 98902 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 32.25 on 05-May-2017 and a 52 week low of Rs. 21.10 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 30.60 and Rs. 27.65 respectively. The current market cap of the company is Rs. 6897.79 crore.

The promoters holding in the company stood at 79.56%, while institutions and non-institutions held 13.64% and 6.80% respectively.

Indian Overseas Bank has received its board’s approval to raise money through preferential issue and through tier-I and tier-II bonds.

The bank’s board has given its approval for issuing equity shares to a maximum extent of 130.11 crore. The funds would be raised through follow-on public offers, rights issues, QIPs, shares offered to employees and issue of shares on preferential basis to QIBs without diluting the government's holding below 52 per cent.

Bank got the board’s nod to raise tier-I and tier-II capital by the issue of additional tier-I perpetual and tier-II BASEL III compliant bonds of Rs 1,500 crore and Rs 1,000 crore respectively.

Indian Overseas Bank Share Price

34.97 0.03 (0.09%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SBI 1080.35
PNB 114.50
Canara Bank 142.35
Bank Of Baroda 280.00
Union Bank Of India 188.90
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