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CSB Bank Limited IPO (CSB Bank IPO) Detail

November 22, 2019 - November 26, 2019

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.

CSB Bank IPO Details

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 Size21,021,821 shares
(aggregating up to ₹409.68 Cr)
Fresh Issue1,243,523 shares
(aggregating up to ₹24.00 Cr)
Offer for Sale19,778,298 shares of ₹10
(aggregating up to ₹385.68 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

CSB Bank IPO Reservation

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 OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered6,302,721 (54.55%)NA
NII (HNI) Shares Offered3,151,360 (27.27%)
Retail Shares Offered2,100,906 (18.18%)28,012
Total Shares Offered11,554,987 (100%)

CSB Bank IPO Timeline (Tentative Schedule)

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

CSB Bank IPO Lot Size

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

CSB Bank IPO Promoter Holding

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

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

About CSB Bank Limited

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 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 (CSB Bank IPO Objectives)

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 Review (May apply)

[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...

CSB Bank IPO Subscription Status (Bidding Detail)

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)

CategorySubscription (times)


  • 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 Prospectus

CSB Bank IPO Rating

Rating:Rated 4.0 stars
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CSB Bank IPO Listing Details

Listing Date December 4, 2019
BSE Script Code 542867
ISIN INE679A01013
Final Issue Price ₹195 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

CSB Bank Limited Contact Details

CSB Bank Limited
'CSB Bhavan', Post Box No 502,
St. Mary's College Road,
Thrissur - 680 020
Phone: +91 487 2333 020

CSB Bank IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270

CSB Bank IPO - Buy or Not

CSB Bank IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 7 0 1
Members 0 0 0

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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.

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

Ranked Members of Forum  Ranked Members | Members with Most Likes



540. tnk |   Link |  Bookmark |January 14, 2020 2:38:05 PM
Oversubsribed 86 times two months back, now nobody wants this below ipo price
539. MS ASSOCIATE |   Link |  Bookmark |December 29, 2019 6:25:40 PM
PNB bank look better than CSB Bank.
538. Rahul Popat |   Link |  Bookmark |December 24, 2019 9:14:03 PM (200+ Posts, 400+ Likes)
Kotak bank accept ipo subscription today

Hahaha error
537. ROSIREDDY |   Link |  Bookmark |December 17, 2019 11:24:29 AM
today my money released from SBI
537.1. Nagarjuna |   Link |  Bookmark |December 17, 2019 4:10:48 PM
You have recevied any message after receiving money??? Why because of my money still blocked in SBI Bank..
537.2. ROSIREDDY |   Link |  Bookmark |December 18, 2019 8:01:46 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 |   Link |  Bookmark |December 14, 2019 10:23:35 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 |   Link |  Bookmark |December 14, 2019 11:13:45 AM (200+ Posts)
Please contact the branch manager
536.3. RSP JUMBO |   Link |  Bookmark |December 16, 2019 6:17:47 PM
Hlo sir I have contacted my bank manager today and my money is unblocked.
535. RAJANS |   Link |  Bookmark |December 13, 2019 4:57:17 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 |   Link |  Bookmark |December 13, 2019 5:05:19 PM
Same here
Anyone give any idea
535.2. Paymzia |   Link |  Bookmark |December 13, 2019 5:21:14 PM
IPO Guru IPO Guru (2400+ Posts, 4500+ Likes)
Ask you home branch bank
534. DasRamesh |   Link |  Bookmark |December 12, 2019 7:08:09 PM
I haven't received the Refund Amount of CSB IPO . What to do ?
534.1. Paymzia |   Link |  Bookmark |December 12, 2019 7:36:58 PM
IPO Guru IPO Guru (2400+ Posts, 4500+ Likes)
Contact your bank home branch
533. GrowYourMoney |   Link |  Bookmark |December 4, 2019 1:08:05 PM
Top Contributor Top Contributor (400+ Posts, 400+ Likes)
Super listing
One can book the gains
Opportunities will come again
533.1. GrowYourMoney |   Link |  Bookmark |December 12, 2019 3:08:39 PM
Top Contributor Top Contributor (400+ Posts, 400+ Likes)
As Indicated, opportunities will come again
Suggested to book the Gains
532. gundu anna |   Link |  Bookmark |December 12, 2019 9:55:17 AM (500+ Posts, 100+ Likes)
this stock listing showed that retail punting would be high risk game.....!!!!
531. RAJANS |   Link |  Bookmark |December 11, 2019 9:02:56 PM
My money are still blocked. Plese tell me what to do.
530. RAJANS |   Link |  Bookmark |December 11, 2019 9:02:33 PM
My money are still blocked. Plese tell me what to do.
529. RAJANS |   Link |  Bookmark |December 11, 2019 11:36:35 AM
My money are still blocked.
528. Guna Sekaran Shankar |   Link |  Bookmark |December 9, 2019 12:07:23 PM
Still my money is blocked with ICICI. Anyone got their money??
528.1. Indy |   Link |  Bookmark |December 9, 2019 10:05:07 PM
My money was unblocked on Dec3 , so contact icici
528.2. RAJANS |   Link |  Bookmark |December 11, 2019 11:35:29 AM
527. Raosunil |   Link |  Bookmark |December 9, 2019 10:06:04 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 |   Link |  Bookmark |December 10, 2019 4:26:11 PM
My also blocked it release on dec 12
526. Lalala |   Link |  Bookmark |December 10, 2019 9:41:44 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 |   Link |  Bookmark |December 10, 2019 4:24:57 PM
My money also blocked it release on dec 12
525. kalpesh modi |   Link |  Bookmark |December 9, 2019 9:21:15 AM
My money still block in upi .. Really worst experience using upi
524. Anujdaga |   Link |  Bookmark |December 7, 2019 8:12:29 AM
My amount is still blocked in axis bank and Canara bank
524.1. HardikV |   Link |  Bookmark |December 7, 2019 9:04:33 AM
Same issue in KOTAK, still UPI mandate showing active
523. Rohit makhija |   Link |  Bookmark |December 5, 2019 8:14:02 PM
Is there anyone whose amount is still block in bank for csb ipo bid????
523.2. D Shah |   Link |  Bookmark |December 6, 2019 10:40:27 AM
Mine also blocked till today
523.3. Rohit makhija |   Link |  Bookmark |December 7, 2019 7:25:38 AM
Amount realised in pnb asba
522. Ranveershre |   Link |  Bookmark |December 6, 2019 1:54:45 PM
My money still blocked in pnb asba..
522.1. REK |   Link |  Bookmark |December 6, 2019 9:33:03 PM
It's released today. PL check...
521. Neeraj Kr. |   Link |  Bookmark |December 6, 2019 6:32:18 PM
basis of allotment of CSB bank out csb bank website