Bookbuilding IPO | ₹410 Cr | Listed at BSE, NSE | Fri, Nov 22, 2019 - Tue, Nov 26, 2019
CSB Bank IPO is a book build issue of ₹409.68 crores. The issue is a combination of fresh issue of 0.12 crore shares aggregating to ₹24.00 crores and offer for sale of 1.98 crore shares aggregating to ₹385.68 crores.
CSB Bank IPO bidding started from Nov 22, 2019 and ended on Nov 26, 2019. The allotment for CSB Bank IPO was finalized on Dec 2, 2019. The shares got listed on BSE, NSE on Dec 4, 2019.
CSB Bank IPO price band is set at ₹195 per share. The lot size for an application is 75. The minimum amount of investment required by an retail is ₹14,625 (75 shares) (based on upper price). The lot size investment for sNII is 14 lots (1,050 shares), amounting to ₹2,04,750, and for bNII, it is 69 lots (5,175 shares), amounting to ₹10,09,125.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to CSB Bank IPO RHP for detailed Information.
IPO Open
Fri, Nov 22, 2019
IPO Close
Tue, Nov 26, 2019
Issue Price
₹195 per share
Market Cap (Pre-IPO)
₹3,382.39 Cr
| IPO Date | 22 to 26 Nov, 2019 |
| Listed on | Wed, Dec 4, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹195 |
| Issue Price | ₹195 per share |
| Lot Size | 75 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,10,09,067 shares (agg. up to ₹410 Cr) |
| Fresh Issue | 12,30,769 shares (agg. up to ₹24 Cr) |
| Offer for Sale | 1,97,78,298 shares of ₹10 (agg. up to ₹386 Cr) |
| Share Holding Pre Issue | 17,22,25,058 shares |
| Share Holding Post Issue | 17,34,55,827 shares |
| BSE Script Code / NSE Symbol | 542867 / CSBBANK |
| ISIN | INE679A01013 |
CSB Bank IPO comprises a total issue size of 2,10,09,067 shares. Out of which, 1,57,56,801 (75.00%) are allocated to QIB, 31,51,360 (15.00%) allocated to NII 21,00,906 (10.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 1,57,56,801 | 75.00% | NA |
| − Anchor Investor Shares Offered | 94,54,080 | 45.00% | NA |
| − QIB (Ex. Anchor) Shares Offered | 63,02,721 | 30.00% | NA |
| NII (HNI) Shares Offered | 31,51,360 | 15.00% | NA |
| Retail Shares Offered | 21,00,906 | 10.00% | 28,012 |
| Total Shares Offered | 2,10,09,067 | 100.00% |
Investors can bid for a minimum of 75 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 75 | ₹14,625 |
| Retail (Max) | 13 | 975 | ₹1,90,125 |
| S-HNI (Min) | 14 | 1,050 | ₹2,04,750 |
| S-HNI (Max) | 68 | 5,100 | ₹9,94,500 |
| B-HNI (Min) | 69 | 5,175 | ₹10,09,125 |
CSB Bank IPO raises ₹184.35 crore from anchor investors. CSB Bank IPO Anchor bid date is November 21, 2019.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Nov 21, 2019 |
| Shares Offered | 94,54,080 |
| Anchor Portion (₹ Cr.) | 184.35 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Jan 1, 2020 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Mar 1, 2020 |
Incorporated in 1920, Kerala based CSB Bank Ltd, formerly known as Catholic Syrian Bank, is one of the oldest private sector banks in India. The bank has a significant presence in Kerala, Karnataka, Tamil Nadu and Maharashtra. CSB Bank Ltd has four business areas, which are:
1. SME Banking:
Under SME Banking, the bank offers banking services to vendors, allied businesses, agriculture, financial institutions, and dealers of corporates. The products offered to this category include working capital loans, letters of credit, term loans, bank guarantees and invoice/bill discounting.
2. Wholesale Banking:
CSB Bank fulfils business needs of large & mid-size corporates, and business entities of Rs 250 million and more credit requirement under Wholesale Banking category.
3. Retail Banking:
Under the Retail Banking category, the bank offers retail lending and deposit products to retail and NRI customers. The lending products include vehicle loans, gold loans, loans against properties, education loans, agricultural loans, personal loans and housing loans to retail and NRI customers. The deposit products include corporate salary accounts, recurring deposits, savings accounts, current accounts, and fixed deposits.
4. Treasury Operations:
Under Treasury Operations, the bank deals with asset-liability management, statutory reserves management, trading & investment of securities, foreign exchange, and liquidity management activities. This category is aimed to maintain liquidity requirement to comply with the CRR (Cash Reserve Ratio) and SLR (Statutory Liquidity Ratio), which are RBI Mandates.
The company also has a contractual arrangement to distribute life insurance products of HDFC, Edelweiss Tokio, and ICICI Prudential Life Insurance Company Ltd and general insurance products of Reliance General Insurance Company Ltd.
The bank has 1.3 million customers, which are majorly from Retail, SME and NRI segments. It has a wide product and services range which are delivered through multiple channels such as 277 ATMs, 414 branches and other micro ATMs, internet banking, debit cards, mobile banking, UPI and POS (Point of Sale). CSB Bank has a presence across 16 states and 4 UTs (Union Territories).
Note: All the information as on 31st March 2019.
In the year 2018, Watsa's Fairfax India Holdings (FIH) Corporation has acquired CSB Bank with 51% stake (around Rs 440 cr). Currently, the bank is focussing on a new business model to work as a full-service new age private sector bank with the help of its promoter, FIH Mauritius Investments Ltd (FIHM).
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To augment our Bank’s Tier-I capital base to meet our Bank’s future capital requirement |
The CSB Bank IPO is subscribed 86.91 times on November 26, 2019 7:48:03 PM (Day 3). The public issue subscribed 44.46 times in the retail category, 62.18 times in the QIB category, and 164.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 62.18 | 63,02,721 | 39,19,21,425 |
| NII | 164.68 | 31,51,360 | 51,89,72,475 |
| Retail | 44.46 | 21,00,906 | 9,34,03,200 |
| Total | 86.91 | 1,15,54,987 | 1,00,42,97,100 |
Note:
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs(including brokerage, underwriting and selling commission) | 6.26 |
| 2 | Brokerage, selling commission and bidding charges for members of the Syndicate, SCSBs, RTAs and CDPs | 0.31 |
| 3 | Selling Commission and Processing fees to SCSBs for ASBA Applications procured by the Syndicate, Sub-Syndicate, Registered Brokers, RTAs or CDPs and submitted with the SCSBs; and bidding charges to members of the Syndicate, RTAs and CDPs | 0.61 |
| 4 | Selling commission for Registered Brokers | |
| 5 | Fees payable to Registrar to the Offer | 0.01 |
| 6 | Printing and stationery expenses | 3.27 |
| 7 | Advertising and marketing expenses | 3.81 |
| 8 | Others:(i)Listing fees;(ii)SEBI, BSE and NSE processing fees;(iii)Book-building software fees;(iv)Other regulatory expenses;(v)Monitoring agency fees;(vi)Fees payable to legal counsels; and(vii)Miscellaneous | 6.34 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹195.00 | ₹195.00 |
| Open | ₹275.00 | ₹275.00 |
| Low | ₹275.00 | ₹275.00 |
| High | ₹307.00 | ₹306.80 |
| Last Trade | ₹300.10 | ₹300.05 |
Lead Manager Reports
CSB Bank IPO is a main-board IPO of 2,10,09,067 equity shares of the face value of ₹10 aggregating up to ₹410 Crores. The issue is priced at ₹195 per share. The minimum order quantity is 75.
The IPO opens on Fri, Nov 22, 2019, and closes on Tue, Nov 26, 2019.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in CSB Bank IPO using UPI as a payment gateway. Zerodha customers can apply in CSB Bank IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in CSB Bank IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The CSB Bank IPO opens on Fri, Nov 22, 2019 and closes on Tue, Nov 26, 2019.
CSB Bank IPO lot size is 75, and the minimum amount required for application is ₹14,625.
You can apply in CSB Bank IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for CSB Bank IPO will be done on Monday, December 2, 2019, and the allotted shares will be credited to your demat account by Tue, Dec 3, 2019. Check the CSB Bank IPO allotment status.
The CSB Bank IPO listing date is on Wed, Dec 4, 2019.
