{"id":"f-e550251d2f-43073397-0e50-520a-9b9c-6fa1c2bed784","title":"Government to sell up to 3% equity in Indian Overseas Bank via OFS","description":"The base offer consists of 38.51 crore equity shares, representing 2% of the bank’s paid-up equity share capital. The offer includes a green shoe option of up to 19.26 crore equity shares, representing an additional 1%, taking the total offer size to 57.77 crore equity shares, or 3% equity. IOB's shares ended in the red today at ₹36.57 apiece on the BSE today, December 16.","timestamp":1765901432,"category":"business","headline":"Government to sell up to 3% equity in Indian Overseas Bank via OFS","modifiedHeadline":"India to Sell Shares in Indian Overseas Bank","subCategories":["scid_2c4a86f2"],"region":"IN","bundleMetaData":{"bundleId":"ece1ae3d-908e-48c7-9e53-a4aa910ee4db","bundleTitle":"Grow Your Money","cardData":null},"iabCategoryId":"68","fcSummary":"The indian government is offering up to 3% equity in indian overseas bank through a stock exchange sale. The offer, opening soon for different investor groups, includes a base of 2% equity shares with a green shoe option for an additional 1%. The floor price is set at ₹34 per share.","summary":"Government plans to divest up to 3% equity in Indian Overseas Bank (IOB) via OFS, offering 57.77 crore shares. IOB's shares fell.","ctaUrl":"https://trends.glance.com/newz/Business_News/IN/en/cnbc-tv18/f-e550251d2f-43073397-0e50-520a-9b9c-6fa1c2bed784","sourceUrl":"https://www.cnbctv18.com/market/stocks/government-to-sell-up-to-3-pc-equity-in-indian-overseas-bank-share-price-via-ofs-19793230.htm","bannerImage":"https://g-mob.glance-cdn.com/public/fc/image/at3wBoHD4NV0.webp","content":"The government of India, through the Department of Financial Services, on Tuesday (December 16) announced an offer for sale of up to 3% equity in Indian Overseas Bank through the stock exchange mechanism.\n\n
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\n The base offer consists of 38.51 crore equity shares, representing 2% of the bank’s paid-up equity share capital. The offer includes a green shoe option of up to 19.26 crore equity shares, representing an additional 1%, taking the total offer size to 57.77 crore equity shares, or 3% equity.\n
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\n The offer will open on December 17, 2025, for non-retail investors and on December 18, 2025, for retail investors, eligible employees and non-retail investors who choose to carry forward their unallotted bids. Bidding will be conducted on a separate window of BSE and NSE between 9.15 am and 3.30 pm on both days.\n\n
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\n The floor price for the offer has been fixed at ₹34 per equity share. There is no discount for retail or employee categories. Up to 1,50,000 equity shares, equivalent to 0.001% of the bank’s paid-up equity capital, may be offered to eligible employees, subject to approval from the competent authority. Eligible employees can apply for shares up to ₹5 lakh, with a maximum allotment of ₹2 lakh per employee.\n
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\n Goldman Sachs (India) Securities Private Limited has been appointed as the seller’s broker for the offer. The disinvestment is being undertaken to meet minimum public shareholding requirements under applicable regulations.\n\n
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\n The offer for sale will open on Wednesday for non-retail investors. Retail investors will be able to bid on Thursday.\n
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\n IOB's shares ended in the red today at ₹36.57 apiece on the BSE today, December 16.\n
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Government to sell up to 3% equity in Indian Overseas Bank via OFS

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