CSB Bank makes strong debut, shares skyrocket 54 pc

Shares of CSB Bank made a strong debut at the bourses on Wednesday and closed the day with a sharp premium of 54 per cent, against the issue price of Rs 195.

The scrip debuted at Rs 275, up 41 per cent on the BSE. During the day, it climbed 57.43 per cent to Rs 307. It later closed at Rs 300.10, showing a sharp gain of 53.89 per cent from the issue price.

On the NSE, the scrip settled at Rs 300.35, a jump of 54 per cent. In intra-day trade, it touched a high of Rs 306.80 and a low of Rs 275.

A total of 40.27 lakh shares of the company were traded on the BSE and 3.7 crore units on the NSE during the day.

The company's market valuation was Rs 5,205.41 crore.

The initial public offering of Kerala-based CSB Bank was subscribed a whopping 86.89 times late last month.

The company's Rs 410 crore IPO, was in a price band of Rs 193-195 per share.

Axis Capital and IIFL Securities were the managers to the offer.