Intimation of Annual General Meeting of the Bank scheduled to be held on 07.07.2026
IOB · price
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Indian Overseas Bank's Board of Directors has approved a capital raising plan for FY 2026-27. The bank plans to raise equity capital of up to Rs. 5,000 crores through FPO, rights issue, QIP, or preferential issue. Additionally, 10 crore new equity shares will be offered to employees under the IOB-ESPS 2026-27 scheme within this limit. The bank also approved issuing Basel III compliant Tier II Bonds up to Rs. 1,000 crores. Further, accumulated losses as on 31.03.2026 will be appropriated from the Share Premium Account subject to approvals. The 26th AGM is scheduled for 7th July 2026 via video conferencing.
Shareholders face potential dilution from the new share issuance of 10 crore shares under ESPS and possible further dilution from the Rs. 5,000 crore equity raise. The Tier II bond issuance may improve capital adequacy. The loss appropriation from share premium indicates cleanup of balance sheet.