Indian Overseas Bank (IOB) has announced that its board has approved raising ₹10,000 crore through the issuance of Long-Term Infrastructure Bonds during the financial year 2024-25.
The decision was taken during the board meeting held on March 19, 2025. The fundraising move aligns with the bank’s strategy to bolster its long-term capital base and support infrastructure financing.
In its regulatory filing, IOB confirmed that the meeting commenced at 10:30 AM and concluded at 2:30 PM. The bank has assured that the funds raised will be utilized to enhance its asset-liability management and strengthen its infrastructure lending capabilities.
“The Board of Directors of our Bank at their meeting held today, i.e. 19th March 2025, inter alia, considered and approved issue of Long Term Infra Bonds to the tune of Rs.10,000 Crores in one or more tranches during the current year or subsequent financial year based on the requirement for financing/refinancing of infrastructure and Affordable housing in compliance with applicable RBI guidelines and other Applicable laws, rules and regulations,” the company said in an exchange filing.
As of 2:59 pm the shares were trading 3.68% higher at ₹43.99 on NSE.
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