IOB OFS: Indian Overseas Bank to exercise oversubscription option; retail bids today

Indian Overseas Bank on Thursday said the government of India has decided to increase the size of its ongoing offer for sale (OFS) by partially exercising the oversubscription option.

In a filing to NSE and BSE, the PSU lender referred to the notice dated December 16, 2025, under which the President of India, acting through the Department of Financial Services, Ministry of Finance, had proposed to sell up to 38.51 crore equity shares, representing 2 per cent of IOB’s paid-up equity capital, through an OFS. The offer was scheduled for December 17, 2025, for non-retail investors, and December 18, 2025, for retail investors, employees and non-retail investors carrying forward unallotted bids.

The floor price for the offer was fixed at Rs 34 per share.

IOB said the seller has now decided to exercise the oversubscription option for an additional 7.61 crore equity shares, equivalent to about 0.395 per cent of the bank’s paid-up equity capital. This takes the total offer size to up to 46.12 crore shares, or around 2.395 per cent of the bank’s paid-up equity capital.

Of the total offer, up to 4.61 crore shares, or 10 per cent, would be available for the retail category on December 18, subject to valid bids. In addition, 1.5 lakh equity shares, representing about 0.001 per cent of the bank’s paid-up equity capital, would be reserved for employees as part of the offer, the bank said. The government had 94.61 per cent stake in the PSU bank at the end of September quarter.