Government sells stake in Indian Overseas Bank

The President of India, as the promoter of Indian Overseas Bank, sold 417.8m equity shares, representing 2.17% of the bank's total voting capital. This "Offer for Sale" was conducted on December 17-18, 2025, via the stock exchange mechanism, including BSE Limited and National Stock Exchange of India Limited.

Prior to the sale, the President of India held 18.2bn shares, accounting for 94.61% of the total voting capital. Following the transaction, the holding was reduced to 17.8bn shares, representing 92.44% of the bank's voting capital.

The initial offer included a base offer size of up to 385.1m equity shares (2%) with an option to sell an additional 192.5m equity shares (1%). An additional 150,000 equity shares were also offered to eligible employees. The total equity share capital of Indian Overseas Bank before and after the sale remains at 19.2bn shares, each with a face value of ₹10.