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Government to divest 3% stake in Indian Overseas Bank

pre-market1 source ↓written by the desknot a recommendation

OFS starting
17 Dec 2023
is set
₹34/share
to the last
7% discount
closing price
₹36.55
and will open
₹1,964 cr

The Centre will divest up to 3% stake in Indian Overseas Bank via an offer for sale (OFS) starting 17 Dec 2023. The floor price is set at ₹34/share, representing a 7% discount to the last closing price of ₹36.55. The OFS aims to raise over ₹1,964 cr and will open for retail investors on 18 Dec 2023. 📉

This move may impact market sentiment as the government retains the option to sell an additional 1% stake through a green shoe option. Orders can be placed on the BSE and NSE during trading hours.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 17 Dec 2025, 07:03 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

IOB closed −6.2% on the day of the news, from ₹36.57 to ₹34.30; Nifty −0.2% over the same session.

Bulletin at 07:03 IST on 17 Dec 2025. Every change is measured from ₹36.57, the last close before it, on 16 Dec. Nifty 50 is measured over the same sessions.

  • IOB close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
IOB closes around the bulletin against the close before the news, with Nifty 50 rebased to it33.5436.5739.60axis spans 18%before the news · 16 Dec36.57Nifty 50IOBbulletinD0+1+3+510 Dec22 Dec1 JanReference close ₹36.57. 16 sessions from 10 Dec to 1 Jan; the price axis spans 18 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before16 Dec₹36.57basebase
On the day17 Dec₹34.30▼ −6.2%▼ −0.2%−6.0 pp difference
+1 session18 Dec₹34.08▼ −6.8%▼ −0.2%−6.6 pp difference
+3 sessions22 Dec₹34.11▼ −6.7%▲ +1.2%−7.9 pp difference
+5 sessions24 Dec₹33.92▼ −7.3%▲ +1.1%−8.3 pp difference
Gap at the open, % · ₹
▼ −2.1%−0.77 on 17 Dec
Day's range, % · ₹
4.5%≈ 1.6 high to low
Volume on the day
6.41×the 20-session average
Futures OI on the day
—
Futures OI open, lots
—
Futures premium, ₹
—
Puts per call, by OI
—
Max pain
—

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