Board Meeting21 May 2026, 05:41 pm
IOB Board Approves ₹5000 Cr Capital Plan for FY27
AI Summary
Indian Overseas Bank's Board of Directors approved a capital plan for FY 2026-27, including raising up to ₹5000 Crores through equity offerings like FPO, rights issue, QIP, or preferential issue. It also includes offering 10,00,00,000 new equity shares to employees under IOB-ESPS 2026-27 and issuing BASEL III compliant Tier II Bonds up to ₹1,000 crores. The board also approved the appropriation of accumulated losses from the Share Premium Account as of March 31, 2026. The 26th Annual General Meeting will be held on July 7, 2026.
Key Highlights
- IOB to raise up to ₹5000 Cr via equity offerings (FPO/Rights/QIP).
- ₹1,000 Cr BASEL III Tier II Bonds issuance approved.
- 10,00,00,000 new equity shares for employees under IOB-ESPS 2026-27.
- Accumulated losses to be appropriated from Share Premium Account.
- 26th AGM scheduled for July 7, 2026.
Price Impact
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