Last Updated on: 20/04/2017


Indian Overseas Bank was constituted as a Public Sector Bank on 19.07.1969 under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.  

Pursuant to Section 3 (2-A) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, the Government of India has, vide GOI Notification S.O. No. 3123 and S.O. No. 3124 dated November 10, 2009, increased the Authorized Capital of Nationalized Banks from Rs. 1500 crore to Rs. 3000 crore. Thus with effect from November 10, 2009, our Bank’s Authorized Capital of Rs. 1500 crore stands increased to Rs. 3000 crore.

Indian Overseas Bank came out with an IPO (Initial Public Offer) in September 2000. The Bank issued 11.12 crore equity shares for a face value of Rs. 10/- for cash at par and raised equity capital of Rs. 111.20 crore. Further the Bank came out with a FPO (Follow On Public Offer) in September, 2003 and issued 10 crore equity shares of Rs. 10/- each for cash at a premium of Rs. 14 per equity share.

The Bank has since issued 7,39,49,343 Equity Shares, of face value Rs. 10.00 each, at a premium of Rs. 132.53 per share, aggregating to Rs. 1054.00 crore(Rupees One Thousand Fifty Four Crore Only) to Government of India on Preferential Basis. Hence, the Paid-up Capital of the bank has increased from Rs. 544.80 to Rs. 618.75 crore as on 31.03.2011. Government of India’s shareholding has increased from Rs. 333.60 crore (61.23%) to Rs. 407.55 crore (65.87%) into the Bank.

The Investor Relations Cell formed in April 2001 deals with all IPO, FPO and all matters related to shareholders including redressal of their grievances, if any, by liaisoning with our Registrar & Share Transfer Agent viz. Cameo Corporate Services Limited, No. 1 Club House Road, Subramanian Building, Chennai 600 002.