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.
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The 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.
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