IOB OFS: Government to Sell 3% Stake, Targets ₹2100 Cr; Retail Bidding Thursday!

• The central government will sell up to 3% equity in Indian Overseas Bank (IOB) through an Offer for Sale (OFS).
• The OFS aims to raise approximately ₹2,100 crore, based on IOB's Tuesday closing price of ₹36.57 on BSE.
• Non-retail investors can bid on Wednesday, while retail investors will have their opportunity on Thursday.
• The sale includes a 2% base tranche (385.1 million shares) and a 1% green shoe option (192.5 million shares).
• This divestment is to comply with SEBI regulations requiring 25% public shareholding by August 2026, as the government currently holds 94.61%.

Why It Matters: Government divests 3% IOB stake to raise ₹2100 Cr and meet SEBI public shareholding norms.