Indian Overseas Bank's board to mull fund raising plan on 2nd May
Indian Overseas Bank announced that its board is scheduled to meet on Friday 2nd May 2025 in Chennai, to consider raising funds for FY26.
To consider the Capital Raising Plan of the Bank for FY 2025-26 through issue of equity shares by way of follow-on public offer (FPO)/rights issue/ qualified institutional placement (QIP) / preferential issue/ESPS or any other mode or combination thereof and /or through issue of BASEL III compliant Tier II Bonds or such other securities as may be permitted under the applicable laws subject to necessary approvals, it stated in exchange filing.
Indian Overseas Bank is engaged in the business of banking & financial services.
The companys standalone net profit jumped 20.9% to Rs 873.66 crore in Q3 FY25 as compared with Rs 722.56 crore in Q3 FY24. Total income increased 13.1% YoY to Rs 1,297.53 crore in Q3 FY25.
The scrip declined 3.06% to end at Rs 37.43 on the BSE.
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