Outcome of Board Meeting (Raising of Tier I Capital through issue of Equity Shares)

• Security Code: 532388
• Company: IOB

Indian Overseas Bank has informed BSE that the Board of Directors of the Bank at its meeting held on September 20, 2013, has considered and approved the following:

1. The permission is accorded to the Bank to raise capital by way of issue of equity share of Rs. 10 each/- at a price determined under SEBI (ICDR) Regulations of 2009 to GOI to the extent of Capital Infusion by GOI under preferential allotment.

2. The permission is accorded to the Bank to issue equity shares of Rs. 10/- each to Qualified Institutional Buyers by way of private placement for the shortfall in Tier I Capital Requirements of Rs. 2100 crore assessed by the Bank and the capital infusion by GOI.