Techtars CSB bank ipo

CSB Bank IPO – Subscribed Over 85 Times: Key Things to know.

IPO

CSB Bank earlier known as “Catholic Syrian Bank” is going to launch Initial Public Offering for subscription on 22 November 2019. The CSB Bank IPO will be closed on 26 November 2019.
CSB Bank is going to collect Rs 410 crore by this IPO. Bank was founded in 1920, this is one of the oldest banks in India. Have mostly presence in Kerala, Tamil Nadu, Karnataka, and Maharashtra.

This IPO get oversubscribed by various types of investor. Most probably there are high chances of allotement of share, via lottery or draw. 

Symbol

CSBBANK

Issue Period

22-Nov-2019 to 26-Nov-2019

Post issue Modification Period

27-Nov-2019 (10.00 A.M. to 11.00 A.M.)

Cut-off time for UPI Mandate Confirmation

27-Nov-2019 (upto 12:00 PM)

Issue Type

100% Book Building

Price Range

Rs.193 to Rs.195

Face Value

Rs 10

Listing  4 Dec 2019

Bid Lot

75 Equity Shares and in multiples thereof

Allotement and Listing

Allotement of shares would be made on December 2, 2019. CSB Bank share would be listed on 4 December 2019 on NSE and BSE both.  

Should you Subscribe 

This bank consistently improving its asset quality and technology. Due to good performance in the financial year, analysts suggest subscribing to the IPO.

This bank has a strong capital base. CSB Bank has a strong channel network and trusted brand in South India. The retail offering is driven by a strong gold loan portfolio. 

It has a granular and stable deposit base with a good and strong management system. 

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