IOB share price, Dec. 17 -- Shares of Indian Overseas Bank (IOB) came under selling pressure on Wednesday, December 17, following the launch of its offer for sale (OFS) worth Rs.1,960 by the government.

IOB OFS floor price is fixed at Rs.34 per share, a discount of 7% as against its last closing price of Rs.36.57 on the BSE. Following the OFS launch, IOB share price fell to the day's low of Rs.34.57, shedding 5.45%. The PSU stock was trading at Rs.34.63 around 1.50 pm.

Here are the key details about IOB OFS that the investors must know:

IOB OFS Size: The government is looking to sell up to 38.51 crore shares or 2% base offer size with an option to additionally sell 19.25 crore shares, representing 1% of the total issued and paid-up equ...