IOB to Raise Rs 1,570 Crore Through Public Offer

New Delhi: State-owned Indian Overseas Bank (IOB) today said it proposes to raise up to Rs 1,570 crore at the current market price from the public offer to fund its growth plan. The bank plans to "raise capital by issue of equity shares to the public not exceeding 51.79 crore shares of face value of Rs 10 each at appropriate premium," IOB said in a filing on the BSE. It, however, did not specify the timing and the exact quantum of ...