Monday, June 24, 2024

IOB mobilises ₹₹1,000 crore via Tier II bonds

Public sector lender Indian Overseas Bank (IOB) has mobilised ₹1,000 crore though Tier II bonds. 

The bank came up with Basel III Compliant Tier II Series V Bonds issue with base size of ₹200 crore and green shoe option of ₹800 crore, the lender said in a filing.

The bidding was held on Thursday on the BSE Electronic Biding Platform. IOB received bids up to ₹1,025 crore against base issue size of ₹200 crore.  

The issue was oversubscribed by five times the base issue size, the lender said.

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