CSB bank IPO will be Listed on 4th Dec 2019:
On 26th Nov 2019, the last day of CSB bank IPO subscription highly increased to 87x. The CSB bank obtained up to 100crore of shares from trading among the 1.15 crores of shares through its IPO.
Category wise Subscription Details:
|Category||22nd Nov||25th Nov||26th Nov||Offered Shares|
|QIB||0||0.26 times||62.18 times||6,302,721|
|NII||0.10 times||1.07 times||164.68 times||3,151,360|
|RII||5.60 times||21.53 times||44.64 times||2,100,906|
|Total||1.05times||4.35 times||86.91 times||11,554,987|
Along with the anchor portion shares of 94,54,080, the IPO released 1,97,78,298 of equity shares for Rs 24 crores. The lot size of the IPO is 75 equity shares and in multiples of 75 thereafter.
According to the promoters report, the allotment orders of the IPO will be released on 2nd Dec. Moreover, On 4th Dec, the CSB bank IPO listing will be started on the Bombay Stock Exchange (BSE), and also on the National Stock Exchange (NSE).
As per the Reserve Bank of India (RBI) norms, the promoters need to decrease their stocks 40% in 5 years, 30% in ten years, and 15% in after 5 years. Due to that, Fairfax India Holdings Corporation decreases its stock from 50.09% to 49.73%.
By the ending of Sep 2019, the CSB bank surrounded by 412 branches. The maximum amount of returns nearly 33.17% provided by its gold loans.
For a long period, the CSB bank worked like a traditional bank. At present, pay attention to improve their performance of plans in its business model for changing as a private bank sector.