Indian Overseas Bank falls after government plans to sell 3% stake at discount

Bank of Maharashtra

17/12/2025 04:21

** Shares of Indian Overseas Bank IOBK.NS fall nearly 2.8% to 35.5 rupees

** Indian government will sell up to 3% stake in state-owned bank via open offer at floor price of 34 rupees/share

** Floor price represents a discount to Tuesday's close of 36.6 rupees

** Non-retail bids open on Dec 17, retail bids on Dec 18

** Stake sale brings lender closer to complying with minimum public shareholding requirements of 25% set by markets regulator

** Earlier this month, the government had also opened an offer for sale of up to 6% stake in Bank of Maharashtra BMBK.NS

** YTD, IOBK down 31.5% vs sub-index Nifty PSU Bank's .NIFTYPSU nearly 27% rise

(Reporting by Urvi Dugar in Bengaluru)

((UrviManoj.Dugar@thomsonreuters.com;))