Indian Overseas Bank (IOB) announced that its issue of Basel III Compliant Tier II Bonds of Rs. 1,000 Crores (Series VI) was oversubscribed by 6.52 times. The bank received total bids of Rs. 3,264 Crores in response to the issue and accepted bids of Rs. 1,000 Crores at a coupon rate of 7.80%.
Successful Bond Issuance
Indian Overseas Bank (IOB) has successfully issued Basel III Compliant Tier II Bonds amounting to Rs. 1,000 Crores (Series VI), including a base issue of Rs. 500 Crores and a Green Shoe option of Rs. 500 Crores.
Oversubscription Details
The bond issue witnessed overwhelming investor response, with total bids reaching Rs. 3,264 Crores. This resulted in an oversubscription of 6.52 times against the base issue size.
Key Details of the Issue
Here are the details of the bond issuance:
- Issue Type: Non-convertible, Taxable, Subordinated, Unsecured, Listed, fully paid-up Basel III compliant Tier II Bonds Series VI in the nature of debentures.
- Issue Size: Base issue size of Rs. 500 crores plus Green-shoe Option of Rs. 500 crores, aggregating to Rs.1,000 crores.
- Number of Bonds: 1,000 of Rs.1.00 crore each
- Issue Opened and Closed: 22nd January 2026
- Deemed Date of Allotment: 23rd January 2026
- Number of Bids Received: 60
- EBP: BSE Electronic Bidding Platform
- Number of Bids Accepted: 29
Source: BSE
