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| Exchange Disseminated Time 27/05/2016 20:09:17 | Indian Overseas Bank has informed BSE that the Board of Directors of the Bank at its meeting held on May 27, 2016, has considered and approved the following:
1. To issue equity shares to a maximum extent of 78.82 crore shares at Rs. 10/- each with appropriate premium as determined by SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009, by way of Follow-on Public Offer or Qualified Institutions Placement or issue of shares on preferential basis to LIC and other insurance companies/mutual funds/Government of India or shares to Employees under SEBI (Share Based Employee Benefits) Regulations, 2014
2. To raise Tier I/Tier II capital by issue of Additional Tier I Perpetual/Tier II BASEL III Compliant Bonds of Rs. 2500 crore and Rs. 1500 crore respectively with applicable green shoe option, in one or more tranche/s, on private placement/to retail segment by way of public issue
as per headroom available and includes the earlier reported figure to stock exchanges. |
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