Indian Overseas Bank shares slip 3% as government launches up to 3% stake sale through OFS.
AI Summary1 min read
TL;DR
Indian Overseas Bank shares dropped over 3% after the government announced a stake sale of up to 3% via OFS, impacting market value and trading near yearly lows.
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Indian Overseas Bankstake saleOFSshare pricegovernment divestment
Indian Overseas Bank shares fell 3.1% to an intra-day low of ₹35.41 after the government proposed to sell up to 3% equity via offer for sale (OFS). The company's market capitalization stands at ₹68,303.12 crore, with a 52-week high of ₹56.05 and a 52-week low of ₹33.01. The government plans to sell up to 38,51,31,796 shares or 2% of equity on December 17 and 18, 2025, with an additional 1% equity on offer through an oversubscription option.
