Kerala-based CSB bank is going to launch an IPO on November 22 for subscription at a price band of INR 193 to 195 per equity share. This IPO consists of an offer for sale around 197 lacs equity shares and a fresh issue of equity shares worth INR 24 crore.
The shareholders who are willing to shares through IPO are ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, The Federal Bank, Satellite Multicomm, ICICI Lombard General Insurance, Bridge India Fund, P-Cube Enterprises, Edelweiss Tokio Life Insurance, and Vinod Mohan Nair.
The issues will be closed on 26th November and the minimum quantity of shares is 75 & in multiples of 5 shares thereafter. The proceeds will be utilized to augment its Tier-I capital base to match with the upcoming capital requirements.
About CSB (Catholic Syrian Bank):
The bank has a strong presence in Kerala along with Talim Nadu, Maharashtra, and Karnataka. It has a network of 412 branches, 290 ATMs.
The Equity shares will be listed on NSE & BSE both. Axis Capital & IIFL Securities are book running lead managers.