Catholic Syrian Bank eyes IPO, PE routes

CSB is planning to raise money through an initial public offering or via private equity

Kerala-based Catholic Syrian Bank (CSB) is planning to raise money through an initial public offering (IPO) or via private equity. The development comes at a time when the proposed Fairfax investment of Rs 1,000 crore for 51 per cent did not go through due to valuation difference. 

Speaking to Business Standard, Catholic Syrian Bank Chairman T S Anantharaman said its board of directors had met on Monday and it was decided to explore three options, including an IPO, private placement or private equity to meet its capital requirement.

Sources in the bank said that since the Fairfax deal fell through, it was