CSB Bank in spotlight on debut

Shares of CSB Bank will be watched as it lists today. The IPO of the Bank was subscribed 86.93 times. The qualified institutional buyers (QIBs) category was subscribed 62.18 times. The non-institutional investors category was subscribed 164.68 times. The retail individual investors (RIIs) category was subscribed 44.53 times. The price band was fixed at Rs 193 to Rs 195 per share and the final issue price was Rs 195 per share. The issue opened for bidding on Friday, 22 November 2019 and closed on Tuesday, 26 November 2019.

HDFC Asset Management Company said one of its promoters, Standard Life Investments, proposes to sell up to 4,750,000 Equity Shares representing 2.23% of the total issued and paid-up Equity Share capital of the Company. The floor price for the Sale shall be Rs 3,170 per Equity Share.

IFCI said ICRA revised ratings of fund based Bank limits, long term bonds (including Subordinated Debt) and bonds / NCD (Public Issue) from ICRA BBB to ICRA BBB-. The rating on Short Term Instruments - Commercial Paper has been revised from '[ICRA] A3+ to [ICRA] A3. Rating Rationale for downgrade has essentially factored the requirement of capital infusion, divestment from non-core assets (including investment in subsidiaries), stepping up the recovery from NPA to support capital and liquidity profile.

Natco Pharma said the Company completed the investment of Rs 5 crore in OMRV Hospitals Private Limited in the form of 5 ,00,000, 0.05% Compulsory Convertible Cumulative Preference Shares (CCCPS) under Private Placement. The Company will be holding 12.8 1% of the shares on a fully diluted basis of Share Capital of OMRV Hospitals Private Limited.

Punjab and Sindh Bank said that a meeting of Board of Directors of Punjab & Sind Bank is scheduled to be held on 6 December 2019 to revalidate the approval for a further period of twelve months to issue of Equity Shares by way of QIP upto an amount of Rs 500 crore.

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