CRISIL Limited, while reaffirming the ratings on the existing debt instruments, has assigned its rating of 'CRISIL A+/Stable' for the Bank's proposed issue of Rs. 500 crore Tier II Bonds (under Basel III) for which the Bank will be approaching the markets shortly. The Bank had earlier obtained the approval of the Board for raising upto Rs. 1500 crore of Basel III Compliant Tier II Bonds during 2019-20 in tranches at an appropriate time to shore up Tier II capital.
CRISIL has also withdrawn its rating on the Lower Tier II bonds (under Basel II) aggregating Rs. 300 crore and Upper Tier II bonds (under Basel II) aggregating Rs 655.30 crore as the outstanding against these is Nil, the Bank's Press Release said.
Shares of INDIAN OVERSEAS BANK was last trading in BSE at Rs.12.07 as compared to the previous close of Rs. 12.11. The total number of shares traded during the day was 147059 in over 235 trades.
The stock hit an intraday high of Rs. 12.85 and intraday low of 12.06. The net turnover during the day was Rs. 1804498.