CSB Bank IPO will be open for subscription to investors on 22 November 2019, offering 1,97,78,298 shares to raise up to Rs 405.72 to 409.68 Crores on the lower and higher end respectively.
The CSB bank is a private sector lender (formerly known as The Catholic Syrian Bank) that will offer its stake by Initial Public Offering from November 22 and will close on November 26, 2019.
CSB Bank IPO Details
| Issue Open | Nov 22, 2019 to Nov 26, 2019 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 21,021,821 Eq Shares of ₹10 (1,243,523 Fresh issue &19,778,298 Offer for Sale) (raising up to ₹409.68 Cr on higher band) |
| Face Value | ₹10 Per Equity Share |
| Issue Price | ₹193 to ₹195 Per Equity Share |
| Market Lot | 75 Shares |
| Min Order Quantity | 75 Shares |
| Listing At | BSE, NSE |
Bank’s Profile
CSB has a strong customer base in Kerala along with a significant presence in other four states that includes Tamil Nadu, Karnataka, and Maharashtra. The CSB Bank has a customer base of more than 13 Lakh as of September 2019 all over India.
CSB Bank offers products and services to its customers through multiple channels that include 412 branches and 290 ATMs across16 states & four union territories of India.
Business Areas of CSB Bank
CSB has four principal business areas that are as follows:
- SME Banking
- Retail Banking
- Wholesale Banking
- Treasury operations.
Note: The bank also offers life insurance products of various companies through contractual agreements with them.
Shareholders of the Company
In 2018, Fairfax India through FIH Mauritius Investments Ltd (FIHM) acquired a 51% stake in the company after approval from RBI and holds the highest stake in the company.
Other stakeholders of the company are as follows:
Management of the Bank
The following persons are holding the Management positions in the company:
| Position | Name |
| CEO | Rajendran Chinna Veerappan |
| MD | Rajendran Chinna Veerappan |
| Non–Executive Director | Madhavan Karunakaran Menon |
| Non–Executive Director | Sumit Maheshwari |
| Independent Director | – Thomas Mathew – Bhama Krishnamurthy – Aravamuthan Madhavan – Syed Nagoor Ali Jinnah |
| Chief Financial Officer | Veluthattil Maheswar |
| Company Secretary & Compliance Officer | Sijo Varghese |
| Chief Compliance Officer | Vincy Louis Pallissery |
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