Punjab & Sind, IOB plan Rs 7,000 crore share sale

Indian Overseas Bank and Punjab & Sind Bank are set to raise ₹4,000 crore and ₹3,000 crore respectively through qualified institutional placements this quarter. IOB has secured necessary approvals and is appointing merchant bankers, while Punjab & Sind Bank will hold an EGM on January 21 to consider its equity capital raise.