Shares of Kerala-based CSB Bank listed at a premium of 41% to the issue price of Rs 195 on BSE today. The stock made its debut at Rs 275 on BSE, 80 points higher than the issue price of the recently held IPO. On NSE, CSB Bank stock listed at Rs 275, a 41.03% premium to the issue price. The market capitalisation of CSB Bank rose to Rs 5,086 crore on BSE. The stock hit an intra day high of Rs 307 on BSE.
The IPO of the bank was held from November 22 to November 26. The IPO was subscribed 87 times on the final day. The portion meant for non-institutional investors was subscribed 164.68 times. Qualified institutional buyers and retail investors put in bids for 62.18 times and 44.53 times against the portion of shares allocated for them.
The lender put 2.10 crore shares of Rs 10 on offer during the IPO. While 12.43 lakh shares amounting to Rs 24 crore were part of the fresh issue, 1.98 crore shares of Rs 10 were sold under the offer for sale (OFS) route. The lender which was formerly known as Catholic Syrian Bank had roped in Axis Capital and IIFL Securities as lead managers of the issue.
CSB Bank raised Rs 184 crore from anchor investors. It finalised the allocation of 94,54,080 shares at Rs 195 apiece to 24 anchor investors, including five mutual funds. Based on the price, the total proceeds would be little over Rs 184 crore.
Alos read: CSB Bank IPO subscribed 7.31 times on day 3