IOB gets SEBI nod for 10 Cr equity shares via ESPS

Indian Overseas Bank (IOB) has received approval from SEBI for the issuance of up to 10,00,00,000 (Ten Crore) fresh equity shares directly to eligible employees under an Employee Stock Purchase Scheme (ESPS). This issuance is intended to comply with Minimum Public Shareholding (MPS) requirements and is in accordance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The approval is specific to this case and not a precedent. The issuance is subject to compliance with all applicable regulatory requirements.