Description

Schedule of activities for the Offer for Sale of Indian Overseas Bank shares on December 17-18, 2025, including bidding timings, allocation methodology, and investor categories.

Summary

BSE has announced the complete schedule for the Offer for Sale (OFS) of Indian Overseas Bank shares scheduled for December 17-18, 2025. The OFS includes a base offer size of 38,51,31,796 shares with an oversubscription option of 19,25,65,898 additional shares. The offer is structured with separate bidding days for institutional/non-institutional investors (December 17) and retail investors/employees (December 18), with a floor price of Rs. 34.00 per share.

Key Points

  • Total offer size: 38,51,31,796 shares (base) + 19,25,65,898 shares (oversubscription option)
  • Floor price: Rs. 34.00 per share with tick size of Rs. 0.01
  • Retail reservation: 10% of issue size (3,85,13,180 base shares + 1,92,56,590 oversubscription)
  • Non-retail offer: 34,66,18,616 base shares + 17,33,09,308 oversubscription shares
  • Employee reservation: 1,50,000 shares
  • Market lot: 1 share
  • ISIN: INE565A01014, Security Code: 532388
  • Allocation methodology: Price Priority Method
  • Seller can exercise oversubscription option by 5 PM on December 17, 2025

Regulatory Changes

No regulatory changes introduced. This circular provides operational details for the OFS process following existing OFS framework.

Compliance Requirements

For Trading Members and Custodian Members:

  • Access OFS module through designated URLs (iBBS platform, RTRMS, Extranet)
  • Internet URLs: https://ibbs.bseindia.com/, https://rtrms.bseindia.com/, https://member.bseindia.com/
  • Leased Line URLs available as per Exchange Circular No. 20170503-12
  • Process bids according to investor category requirements
  • Ensure appropriate margin requirements (100% upfront or 0% for eligible institutional investors)
  • Accept collateral type based on category: Cash & Cash Equivalents for Retail/Employee; Cash only for others

Margin Requirements by Category:

  • Retail Investors (RI/RIC): 100% upfront margin in cash & cash equivalents
  • Employees (EMP): 100% upfront margin in cash & cash equivalents
  • Non-Institutional Investors (NII): 100% upfront margin in cash
  • Institutional Investors (MF/IC/OTHS): 100% upfront margin OR 0% margin option available

Important Dates

December 17, 2025 (T Day):

  • Bid opening and closing for IC/MF/OTH/NII categories
  • Bid entry period: 9:15 AM to 3:30 PM
  • Bid modification and cancellation: 9:15 AM to 3:30 PM
  • Seller decision on oversubscription: By 5:00 PM

December 18, 2025 (T+1 Day):

  • Give up/Take up for institutional 0% margin bids: Up to 7:30 AM
  • Bid opening and closing for RI/RIC/EMP categories
  • Bid entry period: 9:15 AM to 3:30 PM
  • Bid modification and cancellation: 9:15 AM to 3:30 PM
  • Un-allocated bidders from T Day can carry forward bids

December 19, 2025 (T+2 Day):

  • Give up/Take up deadline: Up to 7:30 AM
  • Settlement for un-allocated T+1 bidders carrying forward

Impact Assessment

Market Impact: This is a significant OFS event involving up to 57.76 crore shares (including oversubscription) of Indian Overseas Bank, which will impact the stock’s liquidity and price discovery. The floor price of Rs. 34.00 establishes a reference point for the bidding process.

Investor Categories Affected:

  • Institutional investors (MF, IC, FII, Banks) get first bidding day access
  • Retail investors (bid value up to Rs. 2 lakhs) get dedicated T+1 day access with carry-forward option
  • Non-institutional investors (bid value above Rs. 2 lakhs) bid on T Day
  • Employees get special quota (1.5 lakh shares, bid value up to Rs. 5 lakhs)

Operational Impact: The staggered bidding schedule separates institutional and retail participation, allowing for orderly price discovery. The price priority allocation method ensures competitive bidding. The 0% margin option for institutional investors provides flexibility while retail investors require full upfront margin for investor protection.

Impact Justification

Major OFS event for Indian Overseas Bank involving 38.51 crore shares with structured bidding process across multiple investor categories