 "Kerala-based CSB Bank IPO fully subscribed on first day of bidding")
Kerala-based CSB Bank's initial public offering was fully subscribed on the first day of bidding on Friday, with robust response coming in from retail investors.
The initial public offering (IPO) received bids for 1,20,87,450 shares against the total issue size of 1,15,54,987 shares, reflecting 1.05 times subscription, according to data available with the National Stock Exchange.
The category reserved for non-institutional investors was subscribed 10 per cent, while that for retail investors was subscribed 5.60 times.
The IPO comprises a fresh issue of Rs 24 crore and an offer-for-sale of 1,97,78,298 equity shares, including an anchor portion of 94,54,080 equity shares.
CSB Bank on Thursday raised Rs 184 crore from anchor investors.
The company, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the IPO.
The share sale would close on November 26.
Axis Capital and IIFL Securities are managing the offer.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app