Catholic Syrian Bank files paper with Sebi for Rs 400-cr IPO

Lender seeks to garner Rs 150 cr via pre-IPO placement; issue proceeds to be used to augment its capital base

Catholic Syrian Bank has filed draft papers with capital markets regulator Sebi to raise up to Rs 400 crore through an initial public offer (IPO) to shore up its capital base.

"The bank will issue equity shares aggregating up to Rs 4,000 million," according to draft documents available with Securities and Exchange Board of India (Sebi).

Besides, the mid-sized private lender is considering to garner up to Rs 150 crore via pre-IPO placement.

The proceeds of the issue would be utilised towards augmenting the bank's capital base to meet its future capital requirements.

The issue is being managed by ICICI Securities and Kotak Mahindra Capital Company.

This is the eighth draft document filed with Sebi to float an IPO, since January.

Among the firms that have already filed IPO papers are Amar Ujala Publications, AGS Transact Technologies, S H Kelkar and Company, Shree Shubham Logistics, Precision Camshafts, Pennar Engineered Building Systems and SSIPL Retail.