Indian Overseas Bank has informed the Exchange regarding Outcome of Board Meeting held on May 02, 2025 for considering Capital Plan of the Bank for FY 202526
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The Board of Indian Overseas Bank approved a plan to raise up to Rs. 4,000 crore in equity capital during FY 2025-26 through methods such as Follow-on Public Offer, Rights Issue, Qualified Institutional Placement (QIP), Employee Stock Preference Scheme, or Preferential Issue, in one or more tranches. The bank also approved raising up to Rs. 1,000 crore in Tier II capital through BASEL III Compliant Tier II Bonds, via private placement or public issue, either domestically or overseas. Both proposals are subject to shareholder and regulatory approvals. The total potential capital raise is Rs. 5,000 crore.
This signals a significant capital expansion plan, which may dilute existing shareholders' stake depending on the final mode chosen. However, raising Tier II bonds strengthens the bank's capital adequacy, supporting future lending growth and regulatory compliance.