CSB Bank announces launch of Rs 410-crore IPO, price band at Rs 193-195

The leading managers for the issue are Axis Capital and IIFL Securities

Fairfax-controlled CSB Bank, formerly known as Catholic Syrian Bank, has announced the launch of a Rs 410-crore initial public offering (IPO). The Kerala-based private lender has fixed a price band of Rs 193-195 for the offer, likely to hit the market between November 22 and 26.

The bids for the offer can be applied for a minimum of 75 shares and its multiples.

The proposed IPO will see the CSB Bank raise fresh capital worth Rs 24 crore. The existing shareholders, including ICICI Lombard General Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, The Federal Bank, Bridge India Fund, Satellite