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.