The bonds bear a coupon rate of 9%. The bond issue opened and closed on 24 March 2023. The maturity date for the same is 24 March 2033.

The tenor of the said instrument is 10 years, with a call option on fifth year coupon payment date and on subsequent coupon payment date.

Indian Overseas Bank is engaged in the business of banking & financial services.

The bank's net profit jumped 22.3% to Rs 555.19 crore on 13% rise in total income to Rs 6,006.01 crore in Q3 FY23 over Q3 FY22.

The scrip declined 2.70% to end at Rs 22.33 on the BSE on Friday.