Govt to exercise greenshoe option in Indian Overseas Bank OFS
This story was originally published at 19:05 IST on 17 December 2025
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--Divest secy: Govt to exercise greenshoe option in Indian Overseas Bank OFS
--Divest secy: Got demand for over 410 mln shrs Wed in Indian Overseas Bk OFS
NEW DELHI – The government will exercise the greenshoe option to sell an additional 0.395% stake in Indian Overseas Bank's offer for sale after strong demand on the first day of the offer. The government is looking to sell 2% stake in the bank with an additional 1% as a greenshoe option.
"Offer for Sale in Indian Overseas Bank received good response from non-retail investors today," Divestment Secretary Arunish Chawla said in a post on X, formerly Twitter. "Against about 34.66 cr (346.6 million) shares on offer, demand was received for more than 41 cr (410 million) shares."
With the government deciding to exercise the oversubscription option, the total offer size will rise to 461.23 million shares. Of this, 10% will be available for retail investors Thursday. Additionally, 150,000 shares or 0.001% stake will be offered to employees of the bank.
As of Sept. 30, the government held nearly 95% stake in or more than 18 billion shares of the lender, as per data on the National Stock Exchange. For the September quarter, Indian Overseas Bank had reported a net profit of INR 12.26 billion on a total income of INR 92.14 billion. Shares of the bank ended 6.2% lower Wednesday at INR 34.30 on the NSE. End
Reported by Shubham Rana
Edited by Rajeev Pai
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