Kerala-based CSB Bank gets Sebi's go-ahead to float initial public offering

Kerala-based CSB Bank, formerly known as Catholic Syrian Bank, has received Securities and Exchange Board of India’s (Sebi’s) go-ahead to float an initial public offering (IPO).

The private sector lender, which filed draft papers with the markets regulator in August, received its observations on October 1, latest update with Sebi showed.

The observations are very important to any company for launching public issues like IPO, follow-on public offer  and rights issue.

Through the offer, CSB Bank is looking to raise fresh capital by issuing shares worth Rs 30 crore apart from an offer for sale of 1.98 crore shares by existing shareholders.