Indian Overseas Bank to raise Rs 800 cr through perpetual bonds

Indian Overseas Bank (IOB) to raise Rs 800 cr through perpetual bonds.

The Chennai-headquartered public sector lender Indian Overseas Bank (IOB) informed Bombay Stock Exchange (BSE) that the Board of Directors of the Bank at its meeting held on December 08, 2012, considered and approved to raise Rs 800 crore by way of Tier 1 (Perpetual) Bonds in one or more tranches.

Following the announcement Bank’s stock price by 1.61% to 85.35 a share.

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