Indian Overseas Bank has disclosed that its promoter, the President of India, held 92.44% of the bank's equity shares as of March 31, 2026. The bank confirmed that the promoter, along with persons acting in concert, did not create any encumbrance directly or indirectly during the financial year 2025-26. This declaration ensures shareholders that the promoter's substantial stake remains unencumbered, safeguarding against potential risks associated with pledged shares.

The disclosure was submitted to the stock exchanges in compliance with Regulation 31(4) and 31(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. These regulations mandate periodic reporting to maintain transparency regarding the holding status of promoters and their ability to pledge shares. The filing was signed by Raghuram Mallela, Deputy General Manager, Company Secretary & Compliance Officer.

Shareholding Details

The following table outlines the promoter's shareholding status as of the specified date:

The bank confirmed that no encumbrance was made by the promoter or persons acting in concert during FY26. This status is critical for maintaining investor confidence, as encumbrances can signal financial stress or liquidity issues at the promoter level.

Indian Overseas Bank has scheduled its 26th Annual General Meeting (AGM) for Tuesday, July 7, 2026, at 11:00 A.M. (IST) via Video Conferencing (VC) and Other Audio Visual Means (OAVM). The meeting seeks shareholder approval to raise equity share capital of up to ₹5,000 crores in FY 2026-27 and appropriate accumulated losses from the Share Premium Account. The notice was published in newspapers including the Financial Express, Dinamani, and Jansatta on June 13, 2026.

AGM Agenda

The meeting will cover the adoption of the Audited Standalone and Consolidated Balance Sheet as of March 31, 2026, and the consideration of financial results. Special business items include the capital raise proposal, the appropriation of ₹8,733.34 crore from the Share Premium Account to set off accumulated losses, and the extension of Shri Ajay Kumar Srivastava's tenure as Managing Director & CEO until October 8, 2027.

Capital Raising and Loss Appropriation

The bank proposes to raise up to ₹5,000 crores through modes such as Follow-on Public Offer, Rights Issue, Qualified Institutional Placements, or preferential issues. The government's shareholding will remain not less than 52%. To strengthen the balance sheet, the bank will appropriate ₹8,733.34 crore from its Share Premium Account, which had a balance of ₹9,636.50 crore as of March 31, 2026, to write off accumulated losses of ₹8,733.34 crore.

E-Voting and Participation

Central Depository Services (India) Limited (CDSL) has been appointed to facilitate remote e-voting. Shareholders holding shares as of the cut-off date, Tuesday, June 30, 2026, may cast their votes remotely from Friday, July 3, 2026 (9:00 A.M.) to Monday, July 6, 2026 (5:00 P.M.). Queries regarding e-voting may be addressed to Mr. Rakesh Dalvi, Assistant Vice President at CDSL, via email at helpdesk.evoting@cdslindia.com or the toll-free number 1800 21 09911.