IOB 26th AGM: 4 Resolutions Passed Including Rs 5,000 Cr Capital Raise Plan
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Indian Overseas Bank held its 26th AGM on 7 July 2026 via video conferencing from Chennai. All four resolutions passed with requisite majority. Key items: adoption of audited standalone and consolidated financials for FY ending March 2026, special resolution to raise up to Rs 5,000 crore equity capital via FPO/Rights Issue/QIP/ESPS or preferential basis to LIC, insurers, mutual funds or QIBs, special resolution to appropriate accumulated losses from share premium, and extension of MD and CEO Ajay Kumar Srivastava's tenure from 1 Jan 2026 to 8 Oct 2027. 107 shareholders attended virtually.
Major equity raise of up to Rs 5,000 crore planned via multiple modes. Losses to be set off against share premium. MD and CEO tenure extended to Oct 2027.