Govt holding in IOB drops to 92.44% after share sale

The government holding in the state-owned Indian Overseas Bank (IOB) has declined to 92.44% following the offer-for-sale. This drop in holding comes after a stake dilution of 2.17% following the OFS closure on December 18. Government on December 16 had proposed to sell up to 38.51 crore shares with an option to additionally sell 19.25 crore shares.