Indian Overseas Bank Exercises Oversubscription Option in OFS

Indian Overseas Bank (IOB) announced that the government of India will exercise the oversubscription option in its ongoing offer for sale (OFS). This decision increases the offer size by an additional 7.61 crore equity shares, bringing the total to up to 46.12 crore shares, or around 2.395% of IOB’s paid-up equity capital. The offer, initially set at 38.51 crore shares, is aimed at reducing the government's stake in the bank. T