Indian Overseas Bank’s (IOB) board is going to issue preference shares to the government for Rs 4,100 crore capital infusion. A meeting of the board of directors for the issue of equity share capital would be held on Monday, May 17, 2021, to issue and allot shares to the government on a preferential basis for the capital infusion of Rs 4,100 crore.
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.