Indian Overseas Bank to raise upto INR 60 bln plan via equity, bonds in FY27
This story was originally published at 18:31 IST on 21 May 2026
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--Indian Overseas Bank to raise INR 50 bln via equity in FY27
--Indian Overseas Bank to raise INR 10 bln via tier 2 bonds in FY27
NEW DELHI – The board of Indian Overseas Bank Thursday approved the fund-raising plan for 2026-27 (Apr-Mar). The state-owned bank plans to raise equity capital of INR 50 billion by way of either follow-on public offer or rights issue or qualified institutional placement preferential issue or any other mode, or in combination of these. The fund will be raised in one or more tranches, subject to necessary statutory approvals, the bank informed exchanges.
The bank also plans to raise INR 10 billion via tier-II bonds in FY27, depending upon the requirement, with or without a greenshoe option. This will also be done in one or more tranches on private placement or retail segment in either domestic or overseas market, subject to necessary approvals, the lender said.
Its board also approved the issuance of fresh equity shares up to INR 50 billion under the Employees Share Purchase Scheme, which allows employees to purchase shares of the bank often at a discounted price. This option will be available to all permanent employees, whether working in India or overseas, the bank said.
Indian Overseas Bank made a net profit of INR 15.05 billion in the March quarter, up 43%. Thursday, shares of the company closed at INR 33.77 on the National Stock Exchange, up 0.8% from the previous close. End
Reported by Priyasmita Dutta
Edited by Akul Nishant Akhoury
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