IOB OFS: Government Sells 57 Crore Shares at Discount; Retail Bidding Opens Tomorrow

• Government is diluting a 3% stake in Indian Overseas Bank (IOB) through an Offer for Sale (OFS).
• The floor price is ₹34, approximately a 7% discount to Tuesday's closing price.
• The OFS involves over 57 crore shares; non-retail bidding opened today, retail bidding opens Thursday, December 18.
• IOB shares fell 6.15% to ₹34.32 on BSE following the announcement.
• The sale aims to comply with SEBI's 75% public shareholding norm by August 2026, as the government currently holds ~95%.

Why It Matters: Government's IOB OFS at a discount aims for SEBI compliance, causing a share price drop.