CSB Bank IPO – Review with Date, Price & Grey Market Premium

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 OpenNov 22, 2019 to Nov 26, 2019
Issue TypeBook Built Issue IPO
Issue Size21,021,821 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 Lot75 Shares
Min Order Quantity75 Shares
Listing AtBSE, 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:

CSB Bank stakeholders as per RHP

Management of the Bank

The following persons are holding the Management positions in the company:

CEORajendran Chinna Veerappan
MDRajendran Chinna Veerappan
Non–Executive DirectorMadhavan Karunakaran Menon
Non–Executive DirectorSumit Maheshwari
Independent Director– Thomas Mathew
– Bhama Krishnamurthy
– Aravamuthan Madhavan
– Syed Nagoor Ali Jinnah
Chief Financial OfficerVeluthattil Maheswar
Company Secretary &
Compliance Officer
Sijo Varghese
Chief Compliance OfficerVincy Louis Pallissery

To get more information on Upcoming IPOs in India you can visit our IPO dashboard where you’ll find the latest updates on IPO Watch, IPO Allotment Status, & IPO Grey Market Premium.

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Zelman Yakubov

About the author

Hi, I am Zelman Yakubov, an expert stock market trader. My goal is to educate and mentor people that wants to learn the financial trading markets. In my free time I love to go out for various different entertainment and try new restaurants.