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Indian Overseas Bank to raise Rs 1,000 cr through QIP route; to focus on capital-light and rated accounts

Indian Overseas Bank to raise Rs 1,000 cr through QIP route; to focus on capital-light and rated accounts

Aug 08, 2022, at 10:17 pm

Chennai/Kolkata: Public sector lender Indian Overseas Bank (IOB) is looking to raise up to Rs 1,000 crore under Common Equity Tier (CET) through qualified institutional placements (QIP) to boost profitability, bank's MD and CEO Partha Pratim Sengupta said.