Outcome of Board Meeting held on 21.05.2026
IOB · price
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Indian Overseas Bank's Board of Directors approved a capital raising plan of up to Rs. 5,000 crores through equity instruments (FPO, Rights issue, QIP, or Preferential issue) in one or more tranches. The Bank also approved an Employee Share Purchase Scheme (IOB-ESPS 2026-27) involving 10 crore new equity shares of Rs. 10 each within the Rs. 5,000 crore limit. Additionally, the Board approved issuance of BASEL III compliant Tier II Bonds up to Rs. 1,000 crores via private placement or public issue. The Bank also approved appropriation of accumulated losses as on 31.03.2026 from the Share Premium Account. The 26th AGM will be held on July 7, 2026.
The capital raise signals the Bank's effort to strengthen its balance sheet and meet regulatory capital requirements. Existing shareholders may face dilution from the equity raise and ESPS scheme. The Tier II bonds will help improve capital adequacy ratios under Basel III norms.