CSB Bank IPO Listing

CSB Bank IPO : Bumper listing expected on 4 December

CSB bank will be listed on 4 December 2019 on bourses. Rs. 410 Cr IPO shows strong subscription from all investors and received bids worth Rs. 19,586 Cr. Non Institutional Investors portion subscribed 164.68 times, qualified institutional buyers 62.18 times and Retail investors 44.53 times.

We expect listing of CSB Bank on December 4, 2019 at Rs. 262/- per share over its issue price of Rs. 195/- which is around 34% higher than its issue price.

CSB Bank is one of the oldest private sector banks in India with a history of over 98 years and has a strong base in Kerala along with a significant presence in Tamil Nadu, Karnataka, and Maharashtra. Also, the bank has strong channel network and trusted brand in South India with a strong capital base after investment by Fairfax India through FIHM in the bank in 2018.

The bank delivers its products and services through multiple channels, including 412 branches and 290 ATMs spread across 16 states and four union territories as on September 30’ 2019.

The public issue, which was opened for subscription during 22 November – 26 November, comprised of fresh issue of Rs 24 Cr. and offer for sale of 1.97 Cr shares by selling shareholders including HDFC Life, ICICI Lombard, ICICI Prudential Life, Federal Bank etc.

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himanshu arora
himanshu arora
December 4, 2019 4:41 am

Best advice

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