INDIAN OVERSEAS BANK - Qualified Institutional Placement

Indian Overseas Bank has informed BSE that the Managing Director and CEO, Mr. R. Koteeswaran, pursuant to the powers granted to him by the Board of Directors of the Bank and the shareholders of the Bank, pursuant to its resolutions dated May 08, 2015 and June 30, 2015 respectively, has decided to open the Qualified Institutions Placement on May 17, 2016. <BR><BR>In accordance with Regulation 85 of the SEBI ICDR Regulations, the floor price has been arrived at INR 30.05 per Equity Share.