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06-Dec2018

Indian Overseas Bank gets nod to issue up to 18.24 crore shares under ESPS scheme

Indian Overseas Bank has received an approval for the issue and allotment of up to 18.24 crore equity shares of the Bank to eligible employees of the bank under the Indian Overseas Bank-Employee Stock Purchase Scheme 2018 (IOB-ESPS 2018) for cash at an Issue Price including share premium (at a discount to the prevailing market price) as determined by the Committee of Directors for Issue of Equity Share Capital to all the Eligible Employees of the Bank. The Board of Directors of the Bank on December 05, 2018, by Circular Resolution approved the same.

Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.


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