Indian Overseas Bank

Indian Overseas Bank to raise Rs 800 crore

Indian  Overseas BankPublic sector lender Indian  Overseas Bank has revealed its plan to raise an amount aggregating to Rs 800 crore by issue of bonds on private placement basis.

According to an official communiqué, the bank will raise Rs 510 crore by issue of unsecured redeemable non-convertible subordinate (Upper Tier II) bonds (Series III).