For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Indian Overseas Bank to raise Rs 350 Cr via QIP

By Religare
|

Public sector lender Indian Overseas Bank on Monday said its board has approved raising Rs. 350 crore through qualified institutional placement (QIP).

"The board at its meeting held on December 14, 2013 has approved the raising of bank's equity share of face value of Rs. 10 with premium on preferential basis and or QIP basis up to Rs. 350 crore," IOB said in a filing to Bombay Stock Exchange.

"The raising of an amount of Rs. 350 crore by Qualified Institutional Buyers basis will be in addition to the issue of equity shares to the extent of Rs. 900 crore to Qualified Institutional Buyers by way of private placement as approved by the Board on September 20, 2013 and or by way of preferential allotment as approved by the Board on November 11, 2013," it added.

Read more about: indian overseas bank
Story first published: Tuesday, December 17, 2013, 12:59 [IST]
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC

We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more