Punjab & Sind, IOB plan Rs 7,000 crore share sale

ET BureauLast Updated: Jan 15, 2026, 06:29:00 AM IST

Synopsis

Indian Overseas Bank and Punjab & Sind Bank are set to raise ₹4,000 crore and ₹3,000 crore respectively through qualified institutional placements this quarter. IOB has secured necessary approvals and is appointing merchant bankers, while Punjab & Sind Bank will hold an EGM on January 21 to consider its equity capital raise.

Kolkata: Indian Overseas Bank (IOB) and Punjab & Sind Bank have announced plans to raise ₹4,000 crore and ₹3,000 crore, respectively, by selling shares publicly to institutional investors this quarter.

IOB managing director Ajay Kumar Srivastava Wednesday said the bank has received all required approvals for the qualified institutional placement (QIP) and is now in the process of appointing merchant bankers for the sale.

Punjab & Sind Bank will hold an extraordinary general meeting on January 21 to consider and approve raising of equity capital up to Rs 3,000 crore through a QIP.

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