The President of India, acting as promoter of Indian Overseas Bank (IOB), has sold shares, reducing the promoter stake from 94.61% to 92.44%. This sale involved 417,838,271 equity shares and was executed on the market. The transaction occurred between December 17, 2025, and December 18, 2025. This adjustment represents a move in the bank’s shareholding structure.
Promoter Shareholding Update
The President of India, acting through the Department of Financial Services and as a promoter of Indian Overseas Bank, executed a sale of equity shares. This transaction resulted in a decrease in the promoter’s stake in the bank.
Details of the Transaction
A total of 417,838,271 equity shares were sold. This sale led to a reduction in the promoter’s holding from 94.61% to 92.44%. The transaction was conducted on the market between December 17, 2025, and December 18, 2025. The shares were sold for ₹417.83 Crores.
Impact on Shareholding Structure
Following this transaction, the revised shareholding percentage reflects an adjustment in the ownership structure of Indian Overseas Bank. This activity represents a shift in the distribution of equity within the bank.
Source: BSE