Govt Reduces IOB Stake to 92.44% Post Share Sale for MPS Compliance

• Government's holding in Indian Overseas Bank (IOB) declined by 2.17% to 92.44% after an offer-for-sale (OFS).
• The OFS proposed selling up to 38.51 crore shares (2% base) with an option for an additional 19.25 crore shares (1%).
• Demand for shares exceeded supply, with over 41 crore shares requested against approximately 34.66 crore offered; the green shoe option was exercised.
• The share sale aims to comply with SEBI's minimum public shareholding (MPS) rule of 25% for listed companies.
• SEBI has granted CPSEs and public sector financial institutions forbearance until August 2026 to meet the MPS norm.

Why It Matters: Govt reduced its IOB stake to 92.44% via OFS to meet SEBI's minimum public shareholding norms.