Indian Overseas Bank sets record date for payment of coupons for Basel III Tier II bonds
The coupon payment will take place on April 2, 2025, as the Series IV payment deadline of March 31, 2025, falls on a holiday (Id-Ul-Fitr) and April 1, 2025, is the yearly close of accounts.
Indian Overseas Bank sets record date for payment of coupons for Basel III Tier II bonds
Indian Overseas Bank (IOB), a state-owned bank, has chosen March 7, 2025, as the record date for Basel III Tier II Bond (Series IV & V) coupon payments. Furthermore, IOB declared that in March 2025, coupon payments on its Basel III Tier II Bonds Series IV and V—which have respective coupon rates of 8.60% and 9.00% %—will be handled.
The coupon payment will take place on April 2, 2025, as the Series IV payment deadline of March 31, 2025, falls on a holiday (Id-Ul-Fitr) and April 1, 2025, is the yearly close of accounts.
The bank will pay the Series V coupon on March 24, 2025. The price of IOB shares fell 4.6% today; they started the day at Rs 45 each on the BSE. The intraday low and high prices of IOB's shares were Rs 43.51 and Rs 45.15, respectively.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
As of February 28, 2025, the Indian Overseas Bank's stock price has dropped by 3.27%, marking a severe loss. As a result of this decline, the bank's recent performance has reached a significant low of Rs. 43.85, which is a new 52-week low. A concerning trend for the organization is indicated by the stock's cumulative decline of 5.69% during the last two days.