Indian Overseas Bank raises ₹500 crore via bonds
The base size of the issue was ₹500 crore with a greenshoe option of ₹300 croreThe bank received bids worth ₹855 crore with various coupon rates
New Delhi: Indian Overseas Bank on Saturday said it has raised ₹500 crore through bonds.
"Indian Overseas Bank has mobilised ₹500 crore through its issue of Basel lll Complaint Tier ll bonds today," it said in a statement.
The funds mobilised will be used to meet growth requirement apart from regulatory requirement, the statement said.
"The base size of the issue was ₹500 crore with a greenshoe option of ₹300 crore. The bank received bids worth ₹855 crore with various coupon rates. However, the bank has decided to accept the bids for a base issue size i.e. ₹500 crore," it said.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!