Saraf and Partners | View firm profile
Saraf and Partners advised Indian Overseas Bank (“IOB”) in its qualified institutional placement (“QIP”) of equity shares aggregating to INR 14,368.98 million.
IOB offers a wide range of banking products and services to meet the needs of customers, including both resident and non-resident Indians. The proceeds of the QIP are proposed to be used towards augmentation of Bank’s Tier-I capital base to meet Bank’s future capital requirements and to support growth plans and to enhance the business of the Bank. IDBI Capital Markets & Securities Ltd., Systematix Corporate Services Ltd, Elara Capital (India) Private Limited and Emkay Global Financial Services Ltd acted as placement agents on the QIP.
Our transaction team was led by Partner, Mathew Thomas.