The Board of Indian Overseas Bank at its meeting held on 22 April 2024 has approved to raise paid up equity share capital to a maximum extent of Rs 5000 crore to the public, by way of Follow-on Public Offer / Rights Issue /Qualified Institutional Placement / ESPS/ Preferential Issue or any other mode or combination thereof,in one or more tranches within a period of 12 months from the date of approval, after obtaining the necessary approval of the Government of India and the approval of shareholders through Annual General Meeting (AGM)/Extraordinary General Meeting (EGM).The Board also approved to raise Tier II capital by issue of BASEL III Compliant Tier II Bonds up to a maximum extent of Rs.1000 crore depending upon the requirement, with or without green shoe option, in one or more tranches within a period of 12 months from the date of approval. Powered by Capital Market - Live News

Indian Overseas Bank will hold a meeting of the Board of Directors of the Company on 22 April 2024.Powered by Capital Market - Live News

The Board of Indian Overseas Bank will meet on 22 April 2024 to approve the capital raising plan for FY 2024-25 through Follow-on Public offer (FPO)/Rights issue/ Qualified Institutional Placement (QIP) / Preferential issue or any other mode or combination thereof and /or through issue of BASEL III compliant Tier II Bonds or such other securities. Powered by Capital Market - Live News

Indian Overseas Bank has increased its Base Rate by 25 bps to 9.70% with effect from 15 February 2024. Powered by Capital Market - Live News

Net profit of Indian Overseas Bank rose 30.46% to Rs 724.13 crore in the quarter ended December 2023 as against Rs 555.05 crore during the previous quarter ended December 2022. Total Operating Income rose 22.20% to Rs 6179.83 crore in the quarter ended December 2023 as against Rs 5057.08 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Total Operating Income6179.835057.08 22 OPM %58.2147.32 - PBDT1080.29560.26 93 PBT1080.29560.26 93 NP724.13555.05 30 Powered by Capital Market - Live News