Fairfax-backed CSB Bank IPO subscribed 87 times so far on final day

Given the huge oversubscription, the IPO is likely to be priced at the upper end of its price band of Rs 193-195 per share

Fairfax-backed CSB Bank’s Rs 410-crore initial public offering (IPO) was subscribed 87 times on Tuesday, underpinned by a rally in the secondary market and encouraging performance of new listings.

The share sale saw good demand from all categories of investors. The institutional investor portion was subscribed 62 times; high net worth individuals (HNIs) category saw 164 times demand and the retail segment saw 43 times demand the shares on offer. Analysts said investors were attracted to CSB Bank’s strong network and brand presence in South India. “Significant capital base, established SME business model, gold loan portfolio and prudent risk management controls,”