{"id":1433,"date":"2019-11-22T13:27:34","date_gmt":"2019-11-22T13:27:34","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/11\/22\/csb-bank-ipo-fully-subscribed-on-first-day-on-heavy-demand-from-retail-investors\/"},"modified":"2019-11-22T13:27:34","modified_gmt":"2019-11-22T13:27:34","slug":"csb-bank-ipo-fully-subscribed-on-first-day-on-heavy-demand-from-retail-investors","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/11\/22\/csb-bank-ipo-fully-subscribed-on-first-day-on-heavy-demand-from-retail-investors\/","title":{"rendered":"CSB Bank IPO fully subscribed on first day on heavy demand from retail investors"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1772276 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1.jpg\" alt=\"good response to CSB bank IPO, primary market, IPO market, CSB bank financial, shoul you invest in IPO, CSB \u092c\u0948\u0902\u0915 \u0915\u093e \u0906\u0908\u092a\u0940\u0913\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"wp-image-1772276 size-full\" src=\"https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1.jpg\" alt=\"good response to CSB bank IPO, primary market, IPO market, CSB bank financial, shoul you invest in IPO, CSB \u092c\u0948\u0902\u0915 \u0915\u093e \u0906\u0908\u092a\u0940\u0913\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/IPOmarket1-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">Retail investors bid for a total of 1.16 crore shares as against the 20.29 lakh shares reserved for them, impying a demand of more than 5 times.<\/span><\/figure>\n<\/div>\n<p><a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/csb-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">CSB Bank<\/a> IPO got fully subscribed on the first day of the issue backed by heavy demand from retail investors. The issue received bids for a total of 1.19 crore shares as against the issue size of 1.15 crore implying, implying a 104% subscription. Retail investors bid for a total of 1.16 crore shares as against the 20.29 lakh shares reserved for them, impying a demand of more than 5 times. The non-institutional investors (NII) portion was subscribed about 10% of the portion reserved for them.<\/p>\n<p>Also read:\u00a0<a href=\"https:\/\/www.financialexpress.com\/industry\/kumar-mangalam-birla-loses-3-billion-as-mobile-war-weighs-on-wealth\/1772037\/\" target=\"_blank\" rel=\"noopener noreferrer\">Kumar Mangalam Birla loses $3 billion as mobile war weighs on\u00a0wealth<\/a><\/p>\n<p>Formerly known the Catholic Syrian Bank, the private sector lender looks to raise up to Rs 410 crore from its IPO. Kerala-based\u00a0<a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/csb-bank-ltd-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">CSB Bank<\/a>\u2019s IPO is being carried out to meet\u00a0<a href=\"https:\/\/www.financialexpress.com\/tag\/rbi\/\" target=\"_blank\" rel=\"noopener noreferrer\">RBI<\/a>\u2019s reglulation with regard to listing. The public offer contains a fresh issue of shares to raise up to Rs 24 crore, and an offer for sale (OFS) of 1.97 crore shares by existing investors through which it will sell Rs 385 crore worth shares.<\/p>\n<p>CSB Bank IPO will remain open till November 26th, Tuesday. CSB Bank has fixed the price band as Rs 193- Rs 195 per share. Investors can pick up shares in lots of 75 equity shares, and in multiples of 75 equity shares thereafter.\u00a0The bank is set to\u00a0 finalise basis of allotment on December 2 and will credit equity shares to shareholders\u2019 DP accounts on December 3, Axis Capital said in its recent note.<\/p>\n<p>According to brokerage firm Motilal Oswal, the issue may list at a premium. \u201cAt the upper price band, the issue is valued at 2.4x P\/B on 1HFY20 post issue diluted basis. Post the acquisition by Fairfax group, the realigned operational strategy has helped the company to\u00a0report profits in 1HFY20. The company is focused to improve profitability and growth going ahead. We believe that given the strong promoter backing and turnaround in profitability, investor can\u00a0Subscribe to the IPO for listing gains,\u201d Motilal Oswal said in a report.<\/p>\n<p><strong>(Please consult your financial advisor before taking any investment-related decision)<\/strong><\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Retail investors bid for a total of 1.16 crore shares as against the 20.29 lakh shares reserved for them, impying a demand of more than 5 times. CSB Bank IPO got fully subscribed on the first day of the issue backed by heavy demand from retail investors. The issue received bids for a total [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-1433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1433"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1434"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}