IOB to raise Rs 800 cr through perpetual bonds
Stock's up 1.6% st Rs 85
The Chennai-based Indian Overseas Bank informed BSE that the Board of Directors of the Bank at its meeting held on December 08, 2012, considered and approved to raise Rs 800 crore by way of Tier 1 (Perpetual) Bonds in one or more tranches.
Following the announcement Bank's stock price by 1.61% to 85.35 a share.