CSB Bank IPO: OMERS emerges as the single largest anchor investor

Our Bureau Mumbai | Updated on November 21, 2019

OMERS is one of Canada's largest defined benefit pension plans

OMERS Administration Corporation (OAC Custody Account – SCV6) has emerged as the single-largest anchor investor in CSB Bank's initial public offering (IPO), getting an allocation of 37.97 per cent of the equity shares available for allocation under the Anchor lnvestor Portion.

OMERS is one of Canada's largest defined benefit pension plans, with $97 billion in net assets (as on December 31, 2018).

The bid price at which the Anchor lnvestor Portion of 94,54,080 equity shares got subscribed was Rs 195 per share, according to CSB Bank's regulatory filing.

The other anchor investors include Aditya Birla Sun Life Mutual Fund (MF), Axis MF, ICICI Prudential MF, Sundaram MF, SBI MF, Ashoka India opportunities Fund, Jupiter India Fund. Besides, five mutual funds got an allocation of 31,54,125 equity shares of the bank at a price of Rs 195 per share.

The price band for CSB Bank’s IPO has been set at Rs 193-195 a equity share of face value of Rs 10 each.

The IPO will open on November 22 and close on November 26.

The IPO consists of fresh issue aggregating up to Rs 24 crore and an offer-for-sale (OFS) of up to 1.98-crore shares by the selling shareholders aggregating up to Rs 386 crore at the upper band.

Published on November 21, 2019

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