Indian Overseas Bank and Punjab Sind Bank Plan Rs 7,000 Crore Capital Raises via QIPs

Indian Overseas Bank plans to raise Rs 4,000 crore through a qualified institutional placement (QIP) in the current quarter, subject to market conditions, aiming to reduce government stake by 4%. The bank reported a 56.2% rise in net profit for Q3 FY2025-26 and exceeded growth targets. Alongside, Punjab Sind Bank intends to raise Rs 3,000 crore via QIP to support growth, meet Basel-III norms, and increase public shareholding, though IOB may miss the August 2026 deadline for minimum public shareholding.