IOB to raise funds through rights issue

IOB to raise funds through rights issue State-owned Indian Overseas Bank (IOB) said the board has approved raising of funds through a rights issue. The board of the bank at its meeting held on December 29, approved a rights issue of 20 crore equity shares of face value of Rs 10 each at a premium to be decided based on the market conditions, IOB said in a filing on the BSE.

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