Indian Overseas Bank has obtained an acclaim for the issue and allotment of up to 18.24 crore equity stocks of the Bank to eligible employees of the bank under the Indian Overseas Bank-Employee Stock Purchase Scheme 2018 (IOB-ESPS 2018) for cash at an Issue Price which includes share top class (at a discount to the triumphing marketplace fee) as determined through the Committee of Directors for Issue of Equity Share Capital to all the Eligible Employees of the Bank. The Board of Directors of the Bank on December 05, 2018, by way of Circular Resolution accepted the equal.