India to sell 2-3% stake in Indian Overseas Bank

The President of India, through the Department of Financial Services, Ministry of Finance, has announced an offer for sale of Indian Overseas Bank equity shares. The base offer size is 385.13 million shares (2% of total equity capital), with an option to sell an additional 192.56 million shares (1%), potentially bringing the total divestment to 3% of the bank's equity capital.

The offer for sale will occur over two trading days: December 17, 2025, for non-retail investors, and December 18, 2025, for retail investors, employees, and non-retail investors carrying forward bids. An additional 150,000 shares (0.001%) are reserved for eligible employees. The floor price for the offer is set at ₹34 per equity share.

Goldman Sachs (India) Securities Private Limited is managing the offer, which aims to achieve the minimum public shareholding prescribed by SEBI. No retail or employee discount will be offered, and a minimum of 10% of the offer shares are reserved for retail investors.