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Kerala-based CSB Bank IPO fully subscribed on first day of bidding

The category reserved for non-institutional investors was subscribed 10 per cent, while that for retail investors was subscribed 5.60 times

Press Trust of India  |  New Delhi 

IPO, markets

Kerala-based CSB Bank's initial public offering was fully subscribed on the first day of bidding on Friday, with robust response coming in from retail investors.

The received bids for 1,20,87,450 shares against the total issue size of 1,15,54,987 shares, reflecting 1.05 times subscription, according to data available with the National Stock Exchange.

The category reserved for non-institutional investors was subscribed 10 per cent, while that for retail investors was subscribed 5.60 times.

The comprises a fresh issue of Rs 24 crore and an offer-for-sale of 1,97,78,298 equity shares, including an anchor portion of 94,54,080 equity shares.

CSB Bank on Thursday raised Rs 184 crore from anchor investors.

The company, which aims to raise up to Rs 410 crore, has fixed a price of Rs 193-195 per share for the

The share sale would close on November 26.

Axis Capital and IIFL Securities are managing the offer.

First Published: Fri, November 22 2019. 18:25 IST
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