CSB to announce IPO price band of Rs 193-195, value itself at Rs 3,400 cr

This IPO is mainly to meet the regulatory requirement. RBI had asked the Bank to list on the bourses by September but this was delayed due to procedural issues

Thrissur-based CSB Bank — earlier known as Catholic Syrian Bank — will soon announce an Initial Public Offering (IPO) of its shares, at a price band of Rs 193-195, thus valuing the lender at Rs 3,400 crore. 

The IPO opens this Friday and closes on November 26. 

It will consist of a new issue up to Rs 24 crore and an Offer for Sale of up to 19,778,298 equity shares. Lead managers to the offer are Axis Capital and IIFL Securities.

Three insurance companies — HDFC Life, ICICI Prudential and Edelweiss Tokyo Life — will exit after selling their stakes. Indo-Canadian billionaire Prem