Kerala-based CSB Bank has launched its initial public offer (IPO) today. The private sector lender plans to raise Rs 410 crore through the offer at the upper end of the price band by issuing fresh equity shares and offer for sale of shares by existing shareholders. Price band for CSB Bank IPO has been fixed at Rs 193-195 per share. The issue close closes on November 26.
The lender which was formerly known as Catholic Syrian Bank will issue 2.10 crore shares of Rs 10. Of the total issue size 12.43 lakh shares amounting to Rs 24 crore will be part of the fresh issue. 1.98 crore shares of Rs 10 will be sold under the offer for sale (OFS) category. Axis Capital and IIFL Securities are the lead managers to the issue. CSB Bank shares will be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Here's a look at five things to know before you invest in the CSB Bank IPO.