New Delhi, December 20:
The Government of India’s stake in Indian Overseas Bank (IOB) has declined to 92.44 per cent following the completion of an Offer for Sale (OFS), officials said on Saturday. The stake dilution is part of the government’s broader disinvestment and capital market strategy.
Officials stated that the OFS witnessed healthy investor participation, reflecting confidence in the public sector bank’s financial performance and growth prospects. The proceeds from the stake sale will contribute to the government’s resource mobilisation efforts.
Market analysts noted that reducing government holding improves public shareholding norms and enhances liquidity in the stock. The move is also expected to strengthen corporate governance and attract long-term investors to the bank.
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