Comments
PSU lender Indian Overseas Bank has mobilised ₹1,000 crore through Tier II bonds.
The Chennai-headquartered bank came up with Basel III compliant Tier II Series V Bonds issue with a base size of ₹200 crore and a green shoe option of ₹800 crore. The bidding was held on March 23 on the BSE Electronic Bidding Platform, according to a statement.
Related Stories
Lessons from last financial cycle provided an additional layer of protection: CEA
Data from EPFO and NREGA suggest that the rural economy is not particularly hurting, says Anantha NageswaranThe issue was oversubscribed by five times of base issue size.
The bank received various bids up to ₹1,025 crore against a base issue size of ₹200 crore. The bank accepted bids of the amount up to ₹1,000 crore at 9 per cent against bid received of ₹1,025 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.