Further to bank’s letter no: IRC/33/2017-18 dated 26-02-2018, Indian Overseas Bank has informed that the Extraordinary General Meeting of the Bank was held as scheduled on 28th March 2018 at Chennai. The shareholders of the Bank have approved by way of Special Resolution the issue of up to 2113,356,491 equity shares of the face value of Rs 10 each for cash at an issue price of Rs 23.03 per equity share (including premium of Rs 13.03 per Equity Share) aggregating up to Rs 4867.06 crore as determined by the Board in accordance with Regulation 76 (1) of SEBI ICDR Regulations on preferential basis to Government of India (President of India).
The above information is a part of company’s filings submitted to BSE.
