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The ₹410-crore IPO of Kerala-based CSB Bank (formerly Catholic Syrian Bank) was subscribed by 87 times on Tuesday. The IPO received bids for 100.38 crore equity shares against its issue size of 1.15 crore shares (excluding the anchor book), data from the exchanges showed.
The retail portion of the IPO was subscribed by 44.25 times. The IPO comprises a fresh issue of ₹24 crore and an offer-for-sale of 1.97 crore equity shares, including an anchor portion of 94.54 lakh shares. The non-institutional investors’ shares were subscribed 164.68 times. The QIB portion was subscribed 62.18 times.
CSB has a strong base in Kerala along with a significant presence in Tamil Nadu, Karnataka and Maharashtra. It had an overall customer base of 13 lakh as of September 2019.
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