Indian Overseas Bank Q4 results: Indian Overseas Bank on Friday, May 2, reported a 30 per cent year-on-year (YoY) jump in standalone net profit to ₹1,051.07 crore for Q4FY25 compared to a profit of ₹808.10 crore in the same quarter last year.
The bank’s operating profit before provisions and contingencies for the quarter under review stood at ₹2,617.92 crore, up 33.5 per cent from ₹1,961.11 crore in the same quarter last year.
Meanwhile, the bank also disclosed its fundraising plans for the current financial year through a combination of the issuance of Basel III-compliant Tier II bonds and equity capital.
The bank said its board has approved raising up to ₹4,000 crore in equity capital, including share premium (if any), through one or more methods such as a follow-on public offer, rights issue, qualified institutional placement (QIPs), ESPS, preferential issue, or a combination of these. The funds may be raised in one or more phases during FY26, subject to approval from shareholders at the AGM/EGM and other required regulatory approvals.
Moreover, the board also approved raising up to ₹1,000 crore through the issue of Basel III-compliant Tier II bonds, depending on the requirement. The funds may be raised in one or more phases during FY26, either through private placement or a public issue, in India or abroad, with or without a green shoe option.
(This is a developing story. Please check back for fresh updates.)
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