Indian Overseas Bank has issued and allotted 385, 15, 90,106 equity shares of Rs 10 each at an issue price of Rs 11.32 per equity share (including premium of Rs 1.32 per equity share) to Government of India (President of India) by way of preferential allotment. With this allotment, GOI holding has increased from 94.56% to 95.84%.
Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.
