CSB Bank IPO Fully Subscribed On First Day Of Bidding
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 initial public offering received bids for 1.21 crore shares against the total issue size of 1.16 crore 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 percent, while that for retail investors was subscribed 5.60 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 Nov. 26. Axis Capital and IIFL Securities are managing the offer.