Stocks

CSB Bank IPO subscribed over 4 times on Day 2

PTI New Delhi | Updated on November 25, 2019 Published on November 25, 2019

The initial public offering of CSB Bank was subscribed 4.35 times on the second day of bidding on Monday.

The initial public offering (IPO) of the Kerala-based company received bids for 5 crore shares against the total issue size of 1.15 crore shares, according to data available with the NSE.

While qualified institutional buyers (QIBs) category was subscribed 26 per cent, non-institutional investors segment was fully subscribed. Retail individual investors category was subscribed 21.53 times.

The IPO 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 IPO.

The share sale would close on Tuesday.

Axis Capital and IIFL Securities are managing the offer.

Published on November 25, 2019
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