Indian Overseas Bank (IOB) hired Barclays Plc, Citigroup Inc., Deutsche Bank AG, HSBC Holdings Plc (HSBA), JPMorgan Chase & Co., Royal Bank of Scotland Group Plc and Standard Chartered Plc to manage a possible sale of bonds denominated in dollars, Chairman M. Narendra said today.

The bank may raise as much as $500 million from the sale, Narendra said in a phone interview. “We will look at market feedback before raising money,” he said.

To contact the reporter on this story: Anurag Joshi in Mumbai at ajoshi53@bloomberg.net

To contact the editor responsible for this story: Andrew Monahan at amonahan@bloomberg.net