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CSB Bank Limited IPO (CSB Bank IPO) Detail

Nov 22, 2019 - Nov 26, 2019

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).

Competitive Strengths


  • Strong network and well-known brand in South India
  • Significant capital base
  • Established SME business model
  • Major portion of gold loans in portfolio
  • Prudent risk management controls, policies, and procedures

Key Risks

  • Increase in NPA may impact earnings
  • Managing asset quality in given current stressed scenario particularly in corporate/SME portfolio
  • Volatility in gold prices may impact financials
  • Promoter Fairfax (FIHM) will have to dilute 50.1% stake to 15% over the coming 15 years which may create an overhang in the long term

Company Promoters:

The Promoter of the Bank is FIH Mauritius Investments Ltd ("FIHM").

Company Financials:

Summary of financial Information (Restated)
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)

Objects of the Issue:

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.

CSB Bank IPO Details

IPO Opening Date Nov 22, 2019
IPO Closing Date Nov 26, 2019
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹193 to ₹195 per equity share
Market Lot 75 Shares
Min Order Quantity 75 Shares
Listing At BSE, NSE
Issue Size21,021,821 Eq Shares of ₹10
(aggregating up to ₹409.68 Cr)
Fresh Issue1,243,523 Eq Shares of ₹10
(aggregating up to ₹24.00 Cr)
Offer for Sale19,778,298 Eq Shares of ₹10
(aggregating up to ₹385.68 Cr)

CSB Bank IPO Tentative Timetable

The CSB Bank IPO open date is Nov 22, 2019, and the close date is Nov 26, 2019. The issue may list on Dec 4, 2019.

IPO Open Date Nov 22, 2019
IPO Close Date Nov 26, 2019
Basis of Allotment Date Dec 2, 2019
Initiation of Refunds Dec 3, 2019
Credit of Shares to Demat Account Dec 3, 2019
IPO Listing Date Dec 4, 2019

CSB Bank IPO Lot Size

The CSB Bank IPO market lot size is 75 shares. A retail-individual investor can apply for up to 13 lots (975 shares or ₹190,125).

Application Lots Shares Amount (Cut-off)
Minimum 1 75 ₹14,625
Maximum 13 975 ₹190,125

CSB Bank IPO Promoter Holding

Pre Issue Share Holding 50.09%
Post Issue Share Holding 49.7%

Note:

  • The Anchor Investors bidding date shall be 21st Nov, 2019
  • Investors Portion: QIB=75% of the offer, NIB=15% of the offer and Retail=10% of the offer

CSB Bank IPO Review

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...

CSB Bank IPO Subscription Status (Bidding Detail)

The CSB Bank IPO is subscribed 86.91 times on 11/26/2019 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)

CategorySubscription (times)
QIB62.18
NII164.68
Retail44.46
Total86.91

CSB Bank IPO Prospectus

CSB Bank IPO Rating

2010
4.0
Rating:Rated 4.0 stars
Vote Here ...

CSB Bank IPO Listing Date

Listing Date Wednesday, December 4, 2019
BSE Script Code 542867
NSE Symbol CSBBANK
Listing In B Group of Securities
ISIN INE679A01013
IPO Price ₹195 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO 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

Company Contact Information

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

CSB Bank IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: csb.ipo@linkintime.co.in
Website: https://linkintime.co.in/

CSB Bank IPO FAQs

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 equity share. The minimum order quantity is 75 Shares.

The IPO opens on Nov 22, 2019, and closes on Nov 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 Nov 22, 2019 and closes on Nov 26, 2019.

CSB Bank IPO lot size is 75 Shares and the minimum order quantity is 75 Shares.

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for CSB Bank IPO will be done on Dec 2, 2019, and the allotted shares will be credited to your demat account by Dec 3, 2019. Check the CSB Bank IPO allotment status.

The CSB Bank IPO listing date is on Wednesday, December 4, 2019.

CSB Bank IPO Message Board

Ranked Members  Ranked Members

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1168 Comments

540. tnk |Jan 14, 2020 3:38:05 PM
Oversubsribed 86 times two months back, now nobody wants this below ipo price
539. MS ASSOCIATE |Dec 29, 2019 7:25:40 PM
PNB bank look better than CSB Bank.
538. Rahul Popat |Dec 24, 2019 10:14:03 PM
Top Contributor Top Contributor (200+ Posts, 400+ Likes)
Kotak bank accept ipo subscription today

Hahaha error
537. ROSIREDDY |Dec 17, 2019 12:24:29 PM
today my money released from SBI
537.1. Nagarjuna |Dec 17, 2019 5:10:48 PM
You have recevied any message after receiving money??? Why because of my money still blocked in SBI Bank..
537.2. ROSIREDDY |Dec 18, 2019 9:01:46 AM
i did not receive any message from SBi.. i verified lein amount so it came to "ZERO". and i verified main balance it showing correct amount
536. Nagarjuna |Dec 14, 2019 11:23:35 AM
I haven't received the Refund Amount of ''CSB IPO'' till today. I have applied through SBI Net bank on 22/11/2019. What can i do? Please advise any one..
536.2. Athar |Dec 14, 2019 12:13:45 PM
Please contact the branch manager
536.3. RSP JUMBO |Dec 16, 2019 7:17:47 PM
Hlo sir I have contacted my bank manager today and my money is unblocked.
535. RAJANS |Dec 13, 2019 5:57:17 PM
Can anyone tell me why my money are still blocked when end date was 12th. What is to be done now? Please advise.

535.1. RSP JUMBO |Dec 13, 2019 6:05:19 PM
Same here
Anyone give any idea
535.2. Paymzia |Dec 13, 2019 6:21:14 PM
IPO Guru IPO Guru (1200+ Posts, 3100+ Likes)
Ask you home branch bank
534. DasRamesh |Dec 12, 2019 8:08:09 PM
I haven't received the Refund Amount of CSB IPO . What to do ?
534.1. Paymzia |Dec 12, 2019 8:36:58 PM
IPO Guru IPO Guru (1200+ Posts, 3100+ Likes)
Contact your bank home branch
533. GrowYourMoney |Dec 4, 2019 2:08:05 PM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
Super listing
One can book the gains
Opportunities will come again
533.1. GrowYourMoney |Dec 12, 2019 4:08:39 PM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
As Indicated, opportunities will come again
Suggested to book the Gains
532. gundu anna |Dec 12, 2019 10:55:17 AM
IPO Mentor IPO Mentor (500+ Posts, 100+ Likes)
this stock listing showed that retail punting would be high risk game.....!!!!
531. RAJANS |Dec 11, 2019 10:02:56 PM
My money are still blocked. Plese tell me what to do.
530. RAJANS |Dec 11, 2019 10:02:33 PM
My money are still blocked. Plese tell me what to do.
529. RAJANS |Dec 11, 2019 12:36:35 PM
My money are still blocked.
528. Guna Sekaran Shankar |Dec 9, 2019 1:07:23 PM
Still my money is blocked with ICICI. Anyone got their money??
528.1. Indy |Dec 9, 2019 11:05:07 PM
My money was unblocked on Dec3 , so contact icici
528.2. RAJANS |Dec 11, 2019 12:35:29 PM
My UPI MONEY IS STILL BLOCKED
527. Raosunil |Dec 9, 2019 11:06:04 PM
I didnt get my money back or unhold the blocked amount..? what should i do? Amoumt is still showing on hold of CSB Bank. pls help
527.1. VenkatAbhishek |Dec 10, 2019 5:26:11 PM
My also blocked it release on dec 12
526. Lalala |Dec 10, 2019 10:41:44 AM
My money is still blocked in CITI bank account. Applied through CITI UPI. Does anyone know when will I get the refund.
526.1. VenkatAbhishek |Dec 10, 2019 5:24:57 PM
My money also blocked it release on dec 12
525. kalpesh modi |Dec 9, 2019 10:21:15 AM
My money still block in upi .. Really worst experience using upi
524. Anujdaga |Dec 7, 2019 9:12:29 AM
My amount is still blocked in axis bank and Canara bank
524.1. HardikV |Dec 7, 2019 10:04:33 AM
Same issue in KOTAK, still UPI mandate showing active
523. Rohit makhija |Dec 5, 2019 9:14:02 PM
Is there anyone whose amount is still block in bank for csb ipo bid????
523.2. D Shah |Dec 6, 2019 11:40:27 AM
Mine also blocked till today
523.3. Rohit makhija |Dec 7, 2019 8:25:38 AM
Amount realised in pnb asba
522. Ranveershre |Dec 6, 2019 2:54:45 PM
My money still blocked in pnb asba..
522.1. REK |Dec 6, 2019 10:33:03 PM
It's released today. PL check...
521. Neeraj Kr. |Dec 6, 2019 7:32:18 PM
basis of allotment of CSB bank out csb bank website