Indian Overseas Bank has announced the scheduling of its 26th Annual General Meeting (AGM) on Tuesday, July 7, 2026, at 11:00 A.M. (IST), to be conducted through Video Conferencing (VC)/Other Audio-Visual Means (OAVM). The notice, bearing reference number IRC/61/2026-27 and dated June 11, 2026, was communicated to both BSE Limited and the National Stock Exchange of India Limited.

AGM Agenda at a Glance

The meeting will cover both ordinary and special business items. The following table summarises the key agenda items:

Equity Capital Raising Proposal

The bank proposes to raise equity share capital of up to ₹5,000 crores (including share premium, if any) in one or more tranches during Financial Year 2026-27. The capital may be raised through various modes including Follow-on Public Offer, Rights Issue, Qualified Institutional Placements, Employee Share Purchase Scheme (ESPS), preferential issue to LIC and other insurance companies, Mutual Funds, Qualified Institutional Buyers (QIBs), or any combination thereof. The Board of Directors has been authorised to determine the specific mode, timing, and terms of the issue, subject to requisite regulatory approvals from RBI, SEBI, and the Government of India. The Central Government's shareholding in the bank's paid-up equity capital shall at all times remain not less than 52%.

As part of this proposal, the bank also seeks shareholder approval for the IOB-ESPS 2026-27, under which up to 10,00,00,000 (ten crore) new equity shares of face value ₹10/- each, ranking pari passu with existing equity shares, may be issued to permanent employees of the bank—including the Managing Director & CEO and Executive Directors—within the overall limit of ₹5,000 crores (including share premium).

Share Premium Account Appropriation

As on March 31, 2026, the Share Premium Account of the bank carries a balance of ₹9636,50,05,532.04. The bank's accumulated losses as on the same date stand at ₹8733,34,22,563.02. The bank proposes to appropriate ₹8,733.34 crore from the Share Premium Account to set off these accumulated losses during the current financial year 2026-27. The bank has stated that this appropriation will not affect the bank's equity capital structure, shareholding pattern, or book value per share, and will present a true and fair view of its financial position.

MD & CEO Tenure Extension

The AGM will also seek shareholder ratification for the extension of tenure of Shri Ajay Kumar Srivastava as Managing Director and Chief Executive Officer. The Central Government, vide Gazette Notification eF. No. 4/3/2024 BO.I dated September 8, 2025, extended his tenure beyond his previously notified term (which expired on December 31, 2025) until the completion of his 10-year tenure as Whole-Time Director in Indian Overseas Bank, i.e., from January 1, 2026 to October 8, 2027, or until further orders, whichever is earlier.

Key Dates and E-Voting Details

Shareholders may note the following important dates and procedures:

• Cut-off Date (for e-voting eligibility and AGM participation): Tuesday, June 30, 2026
• Remote E-Voting Period: Friday, July 3, 2026 (9:00 A.M.) to Monday, July 6, 2026 (5:00 P.M.)
• AGM Date and Time: Tuesday, July 7, 2026 at 11:00 A.M. (IST)
• Mode: Video Conferencing (VC)/Other Audio-Visual Means (OAVM)

Central Depository Services (India) Limited (CDSL) has been appointed as the e-voting agency. The Scrutinizer appointed for the e-voting process is Mr. R. Sridharan of R. Sridharan & Associates, Company Secretaries (FCS No. 4775) (CP No. 3239). The notice of the 26th AGM is accessible on the bank's website at https://www.iob.bank.in/documents/d/guest/notice_agm_2026 . The communication has been signed by Raghuram Mallela, Deputy General Manager and Company Secretary, Indian Overseas Bank, Investor Relations Cell, Central Office, 763, Anna Salai, Chennai 600 002.

Indian Overseas Bank has obtained a license from the International Financial Services Centres Authority (IFSCA) to set up and operate a banking unit at GIFT City, Gujarat. This development marks a significant step for the public sector lender as it establishes its footprint in India's dedicated international financial services hub.

IFSCA License and GIFT City Presence

The IFSCA license authorizes Indian Overseas Bank to conduct banking operations through a dedicated unit at Gujarat International Finance Tec-City (GIFT City), which serves as India's first operational smart city and international financial services centre. The license enables the bank to participate in the range of financial and banking activities permitted under the IFSC regulatory framework.

Significance of the Development

GIFT City is recognized as India's international financial services centre, designed to facilitate cross-border financial transactions and attract global financial institutions. A banking unit at GIFT City allows institutions to offer services such as foreign currency lending, trade finance, and other international banking products under a distinct regulatory environment governed by IFSCA. Indian Overseas Bank's entry into this space reflects the bank's intent to broaden its operational scope within this specialized financial ecosystem.