CSB Bank IPO Subscribed 87 Times On Last Day Of Subscription

CSB Bank initial public offering (IPO) witnessed huge demand as the issue was subscribed 87 times on the last day of subscription, data on National Stock Exchange showed. The three-day CSB Bank share sale, which ended on Tuesday, received over 100 crore bids compared with 1.15 crore shares on offer. Over 7 crore bids were received at the cut-off price. (Also read: All you need to know about CSB IPO)

As per the NSE bid details, CSB Bank shares received good response from all categories of investors. The qualified institutional buyers (QIB) was subscribed 38.85 times, portion reserved for non-institutional investors (NII) was subscribed 45.49 times and retail portion was subscribed 9.01 times.

Thrissur, Kerala-based CSB Bank's initial public offering was fully subscribed on the first day of bidding on Friday.

The CSB IPO of Rs 410 crore included fresh sale of Rs 24 crore and balance OFS by existing investors. The company had fixed a price band of Rs 193-195 for sale of its shares.

CSB Bank's key strategic-investor-cum promoter Fairfax India Holdings - Mauritius, which holds a 50.1 per cent stake in the bank, did not tender any shares in the IPO.

The shares will be allotted on December 2, 2019 and listed on both National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on December 4.