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CSB Bank IPO is a book built issue of Rs 409.68 crores. The issue is a combination of fresh issue of 0.12 crore shares aggregating to Rs 24.00 crores and offer for sale of 1.98 crore shares aggregating to Rs 385.68 crores.
CSB Bank IPO bidding started from November 22, 2019 and ended on November 26, 2019. The allotment for CSB Bank IPO was finalized on Monday, December 2, 2019. The shares got listed on BSE, NSE on December 4, 2019.
CSB Bank IPO price band is set at ₹193 to ₹195 per share. The minimum lot size for an application is 75 Shares. The minimum amount of investment required by retail investors is ₹14,625.
Axis Capital Limited and Iifl Securities Ltd are the book running lead managers of the CSB Bank IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to CSB Bank IPO RHP for detailed information.
| IPO Date | November 22, 2019 to November 26, 2019 |
| Listing Date | December 4, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹195 per share |
| Lot Size | 75 Shares |
| Total Issue Size | 21,021,821 shares (aggregating up to ₹409.68 Cr) |
| Fresh Issue | 1,243,523 shares (aggregating up to ₹24.00 Cr) |
| Offer for Sale | 19,778,298 shares of ₹10 (aggregating up to ₹385.68 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
CSB Bank IPO offers 11,554,987 shares. 6,302,721 (54.55%) to QIB, 3,151,360 (27.27%) to NII, 2,100,906 (18.18%) to RII. 28,012 RIIs will receive minimum 75 shares and (sNII) and (bNII) will receive minimum 1,050 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 6,302,721 (54.55%) | NA |
| NII (HNI) Shares Offered | 3,151,360 (27.27%) | |
| Retail Shares Offered | 2,100,906 (18.18%) | 28,012 |
| Total Shares Offered | 11,554,987 (100%) |
CSB Bank IPO opens on November 22, 2019, and closes on November 26, 2019.
| IPO Open Date | Friday, November 22, 2019 |
| IPO Close Date | Tuesday, November 26, 2019 |
| Basis of Allotment | Monday, December 2, 2019 |
| Initiation of Refunds | Tuesday, December 3, 2019 |
| Credit of Shares to Demat | Tuesday, December 3, 2019 |
| Listing Date | Wednesday, December 4, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 26, 2019 |
Investors can bid for a minimum of 75 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | ₹14,625 |
| Retail (Max) | 13 | 975 | ₹190,125 |
| Lot Size Calculator | |||
The Promoter of the Bank is FIH Mauritius Investments Ltd ("FIHM").
| Share Holding Pre Issue | 50.09% |
| Share Holding Post Issue | 49.7% |
Incorporated in 1920, Kerala based CSB Bank Ltd, formerly known as Catholic Syrian Bank, is one of the oldest private sector banks in India. The bank has a significant presence in Kerala, Karnataka, Tamil Nadu and Maharashtra. CSB Bank Ltd has four business areas, which are:
1. SME Banking:
Under SME Banking, the bank offers banking services to vendors, allied businesses, agriculture, financial institutions, and dealers of corporates. The products offered to this category include working capital loans, letters of credit, term loans, bank guarantees and invoice/bill discounting.
2. Wholesale Banking:
CSB Bank fulfils business needs of large & mid-size corporates, and business entities of Rs 250 million and more credit requirement under Wholesale Banking category.
3. Retail Banking:
Under the Retail Banking category, the bank offers retail lending and deposit products to retail and NRI customers. The lending products include vehicle loans, gold loans, loans against properties, education loans, agricultural loans, personal loans and housing loans to retail and NRI customers. The deposit products include corporate salary accounts, recurring deposits, savings accounts, current accounts, and fixed deposits.
4. Treasury Operations:
Under Treasury Operations, the bank deals with asset-liability management, statutory reserves management, trading & investment of securities, foreign exchange, and liquidity management activities. This category is aimed to maintain liquidity requirement to comply with the CRR (Cash Reserve Ratio) and SLR (Statutory Liquidity Ratio), which are RBI Mandates.
The company also has a contractual arrangement to distribute life insurance products of HDFC, Edelweiss Tokio, and ICICI Prudential Life Insurance Company Ltd and general insurance products of Reliance General Insurance Company Ltd.
The bank has 1.3 million customers, which are majorly from Retail, SME and NRI segments. It has a wide product and services range which are delivered through multiple channels such as 277 ATMs, 414 branches and other micro ATMs, internet banking, debit cards, mobile banking, UPI and POS (Point of Sale). CSB Bank has a presence across 16 states and 4 UTs (Union Territories).
Note: All the information as on 31st March 2019.
In the year 2018, Watsa's Fairfax India Holdings (FIH) Corporation has acquired CSB Bank with 51% stake (around Rs 440 cr). Currently, the bank is focussing on a new business model to work as a full-service new age private sector bank with the help of its promoter, FIH Mauritius Investments Ltd (FIHM).
| Particulars | For the year/period ended (Rs in Million) | ||||
|---|---|---|---|---|---|
| 30-Sep-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 1,73,232.58 | 1,64,534.60 | 1,53,346.62 | 1,57,700.26 | |
| Total Revenue | 8,167.14 | 14,834.33 | 14,222.26 | 16,174.96 | |
| Profit After Tax | 442.72 | (656.89) | (1,270.88) | (579.91) | |
The objects of the Offer are:
1. To augment Bank's Tier-I capital base to meet the Bank's future capital requirements;
2. To achieve the benefits of listing the Equity Shares on the Stock Exchanges and Offer for Sale.
[Dilip Davda] Based on financial data, the issue is aggressively priced. We have witnessed well managed grey market operation even before the official price band announcements by vested interest. This may lure listing gainers/short term investors to opt for this issue. All its peers are trading at much lower P/Es currently. Aggressive IPO pricing already discounts all near term positive factors. The banking sector is on the crossroads and witnessing no fancy. Considering all these factors, cash surplus risk savvy investors may consider investment at their own risk. Read detail review...
The CSB Bank IPO is subscribed 86.91 times on November 26, 2019 7:48:03 PM. The public issue subscribed 44.46 times in the retail category, 62.18 times in the QIB category, and 164.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 62.18 |
| NII | 164.68 |
| Retail | 44.46 |
| Total | 86.91 |
Note:
| Listing Date | December 4, 2019 |
| BSE Script Code | 542867 |
| NSE Symbol | CSBBANK |
| ISIN | INE679A01013 |
| Final Issue Price | ₹195 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹195.00 |
| ₹275.00 |
| ₹275.00 |
| ₹307.00 |
| ₹300.10 |
| NSE |
|---|
| ₹195.00 |
| ₹275.00 |
| ₹275.00 |
| ₹306.80 |
| ₹300.05 |
CSB Bank Limited
'CSB Bhavan', Post Box No 502,
St. Mary's College Road,
Thrissur - 680 020
Phone: +91 487 2333 020
Email: investors@csb.co.in
Website: http://www.csb.co.in
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: csb.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
CSB Bank IPO is a main-board IPO of 21,021,821 equity shares of the face value of ₹10 aggregating up to ₹409.68 Crores. The issue is priced at ₹193 to ₹195 per share. The minimum order quantity is 75 Shares.
The IPO opens on November 22, 2019, and closes on November 26, 2019.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The CSB Bank IPO opens on November 22, 2019 and closes on November 26, 2019.
CSB Bank IPO lot size is 75 Shares, and the minimum amount required is ₹14,625.
You can apply in CSB Bank IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for CSB Bank IPO will be done on Monday, December 2, 2019, and the allotted shares will be credited to your demat account by Tuesday, December 3, 2019. Check the CSB Bank IPO allotment status.
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