Business

CSB Bank public offer subscribed 87 times

Bids made for 100.41 cr. equity shares

The initial public offer (IPO) of CSB Bank, which closed for subscription on Tuesday, was subscribed nearly 87 times, with bids received for 100.41 crore equity shares as against 1.16 crore shares on offer in the price band of ₹193 to ₹195, as per data from the National Stock Exchange (NSE).

Further, all categories of investors showed a strong interest in the public issue with the portions reserved for institutional and retail investors getting subscribed 62 times and 44 times, respectively. The segment reserved for high net worth individuals was subscribed nearly 165 times.

CSB Bank reported ₹44 crore profit for the half year ended September 2019 compared with a ₹197 crore loss for the full financial year 2018-19.

The loan book of the bank is at ₹11,500 crore and its deposit base is ₹15,000 crore.

HDFC Life, ICICI Prudential and Edelweiss Tokyo Life Insurance Company, which have a stake in the bank, will partly offload their holdings.

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Printable version | Jul 15, 2020 6:08:32 PM | https://www.thehindu.com/business/csb-bank-public-offer-subscribed-87-times/article30090098.ece

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