The IPO of Kerala-based CSB Bank will close today. The issue, which opened on Friday, was fully subscribed on the first day itself, with strong interest seen from retail investors. CSB Bank is aiming to raise up to Rs 410 crore and has fixed a price of Rs 193-195 per share for the IPO. Axis Capital and IIFL Securities are managing the offer. On Thursday, CSB Bank raised Rs 184 crore from anchor investors. Omers Administration Corp, ICICI Prudential Mutual Fund, SBI Mutual Fund, Aditya Birla Sun Life Mutual Fund, Axis Mutual Fund, HSBC Indian Equity Mother Fund, and Ashoka India Opportunities Fund are among the anchor investors.
As of 4.00 pm today, CSB Bank IPO was subscribed nearly 86.67 times.
Lot Size: 75 equity shares and in multiples of 75 thereafter.
Registrar: Link Intime India Private Limited is the registrar to the offer.
CSB Bank shares will be listed on both BSE and NSE. The tentative date for share allotment finalisation is likely to be December 02, 2019 and listing date December 4, 2019, according to brokerages.
CSB Bank IPO comprises a fresh issue of Rs. 24 crore and an offer-for-sale of 1,97,78,298 equity shares, including an anchor portion of 94,54,080 equity shares.
Post IPO, the holding of its promoter entity, Fairfax India Holdings Corporation, will go down to 49.73% from the present 50.09%. According to RBI regulations, the promoter has to reduce stake to 40% in five years, 30% in 10 years and 15% in 15 years.
