Indian Overseas Bank has received approval from its board for issuance of equity shares to a maximum of Rs 1,000 crore with appropriate premium to the public, by way of follow on public offer/rights issue with or without participation from government or issue of equity shares to Qualified Institutional Buyers (QIBs). The bank will seek shareholders' approval for raising the equity capital.
The board also approved raising tier II capital by issue of Basel III-compliant tier II bonds up to Rs 1,000 crore with or without applicable green shoe option on private placement basis. It may also include bonds issuance to retail segment through public issue domestically or overseas.
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.
| Company Name | CMP |
|---|---|
| State Bank Of India | 1044.10 |
| PNB | 105.80 |
| Bank Of Baroda | 246.65 |
| Canara Bank | 125.05 |
| Union Bank Of India | 168.55 |
| View more.. | |
Start Research-backed Investing ...Now. Subscribe to Sapphire
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: