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CSB Bank vaults on debut

Capital Market 

Shares of CSB Bank were trading at Rs 299.05 at 11:09 IST on BSE, a premium of 53.36% over the initial public offer price of Rs 195.

Meanwhile, the S&P BSE Sensex was up by 7.35 points, or 0.02% to 40,682.80.

The stock debuted at Rs 275, a premium of 41.02% to the initial public offer (IPO) price. So far the stock hit a high of Rs 307 and low of Rs 275. On BSE, so far 30.42 lakh shares were traded on the counter.

The initial public offer (IPO) of CSB Bank received bids for 100.44 crore shares as against 1.15 crore shares on offer. The issue was subscribed 86.93 times.

The issue opened for bidding on 22 November 2019 and closed on 26 November 2019. The price band was fixed at Rs 193 to Rs 195 per share.

CSB Bank reported a net profit of Rs 44.27 crore on a net interest income of Rs 279.52 crore for the six months ended on 30 September 2019.

CSB Bank, earlier The Catholic Syrian Bank, is one of the oldest private sector banks in India with a history of over 98 years and a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra with an overall customer base of 1.3 million end September 2019. The bank is primarily focused in the states of Kerala and Tamil Nadu.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 04 2019. 11:11 IST
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