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Home › IPOs › CSB Bank Ltd.
CS
CSB Bank Ltd.
CLOSED NSE & BSE Bookbuilding IPO Fresh Capital-cum-Offer for Sale CSB Bank IPO GMP
GREY MARKET PREMIUM
₹ 0
No premium data
EST. LISTING PRICE
₹195
Issue Price: ₹ 195
Issue Price
₹195
Face Value
₹10
Lot Size
75 shares
Open Date
22 Nov 2019
Close Date
26 Nov 2019
Allotment
02 Dec 2019
Listing Date
04 Dec 2019
Exchange
NSE & BSE
CSB Bank IPO About the Company

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).
 

Competitive Strengths


 

  • Strong network and well-known brand in South India
  • Significant capital base
  • Established SME business model
  • Major portion of gold loans in portfolio
  • Prudent risk management controls, policies, and procedures
Key Risks
  • Increase in NPA may impact earnings
  • Managing asset quality in given current stressed scenario particularly in corporate/SME portfolio
  • Volatility in gold prices may impact financials
  • Promoter Fairfax (FIHM) will have to dilute 50.1% stake to 15% over the coming 15 years which may create an overhang in the long term
...read more
CSB Bank IPO Objects of the Issue
Purpose Amount (₹ Cr)
1 To augment our Bank’s Tier-I capital base to meet our Bank’s future capital requirement —
CSB Bank IPO Lead Managers
Axis Capital Ltd. IIFL Capital Services Ltd.
Financial Summary Amount in Crore
Metric 30-Sep-19 31-Mar-19 31-Mar-18
Total Assets 17,323 16,453 15,335
Revenue 817 1,483 1,422
PAT 44 66 127
Issue Details
Total Shares Offered
21,009,067 (100%)
Pre-Issue Shareholding
172,225,058 shares
Post-Issue Shareholding
173,455,827 shares
UPI Mandate
26 Nov 2019
IPO Analytics Dashboard
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CSB Bank IPO GMP Insights
👤
Retail Demand
Weak
💼
HNI Interest
Good
🏦
QIB Demand
Strong
📊
Valuation
Moderate
CSB Bank IPO GMP Strength Score
6 / 10 Moderate
0–3 Weak 3–6 Moderate 6–8 Good 8–10 Strong
CSB Bank IPO Category-wise Subscription Shares offered, bid & amount
Category Sub (x) Offered Bid For
🏦 QIB — 15,756,801 (75%) —
💼 NII / HNI — 3,151,360 (15%) —
👤 Retail (RII) — 2,100,906 (10%) —
Σ Total — 21,009,067 (100%) —

* Amount calculated at upper price band (₹195) ·  ** Total includes all investor categories

Subscription Overview Share allocation by investor category
🏦
QIB ? 15,756,801 (75%)
75%
💼
NII / HNI ? 3,151,360 (15%)
15%
👤
Retail (RII) ? 2,100,906 (10%)
10%
Total Shares Offered 21,009,067 (100%)
CSB Bank IPO Application Sizing Minimum investment by category
👤 Retail Investors ?
Min. Lots 1
Shares / Lot 75
Min. Investment ₹14,625
💼 HNI Investors ?
Min. Lots 14
Min. Shares 1,050
Min. Investment ₹204,750
🏛️ bHNI (>₹10L) ?
Min. Lots 69
Min. Shares 5,175
Min. Investment 1,009,125
CSB Bank IPO Timeline & Key Dates
  1. 1 💳 Initiation of Refund 03 Dec 2019
  2. 2 📂 Credit of Shares to Demat 03 Dec 2019
  3. 3 🔒 Lock-in Period (30%) January 1, 2020
  4. 4 🔒 Lock-in Period (50%) March 1, 2020
Investor Interpretation
  • Retail allocation is weak at 10% of the total offering.
  • HNI/NII demand is good at 15%.
  • Institutional (QIB) interest is strong at 75%.

This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.

STOCK PRICE HISTORY  ·  NSE
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Issue Price: ₹ 195  ·  Symbol: —
H —
L —
O —
CSB Bank IPO Company Info
📍 'CSB Bhavan', Post Box No 502, St. Mary's College Road, Thrissur - 680 020 Thrissur, Kerala
Visit Website
CSB Bank IPO Registrar
MUFG Intime India Pvt.Ltd.
Check Allotment Status
CSB Bank IPO FAQs
CSB Bank IPO has already listed. Its last recorded GMP was ₹0. GMP is only indicative and never a guarantee of listing gains.
The issue price of CSB Bank IPO is ₹195 per share. One lot has 75 shares, so the minimum investment is about ₹14,625. It is a Fresh Capital-cum-Offer for Sale issue.
CSB Bank IPO opened on 22 Nov 2019 and closed on 26 Nov 2019. Allotment is tentatively finalised on 02 Dec 2019. Shares are listed on NSE & BSE on 04 Dec 2019.
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.
As per the offer document, CSB Bank plans to use the IPO proceeds for: 1 To augment our Bank’s Tier-I capital base to meet our Bank’s future capital requirement.
The lead managers of CSB Bank IPO are Axis Capital Ltd., IIFL Capital Services Ltd..
CSB Bank IPO is proposed to list on NSE & BSE; it is a Bookbuilding IPO and the issue is a Fresh Capital-cum-Offer for Sale.
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