New Delhi: The scrip of CSB Bank made a strong debut at the bourses on Wednesday, listing with a premium of 41 per cent, against its issue price of Rs 195. The scrip debuted at Rs 275, up 41 per cent at the BSE. Later, it touched a high of Rs 304, reflecting a sharp jump of 55.89 per cent. Also Read - After People Storm Twitter With Complaints, HDFC Bank Apologises For the 'Technical Glitch' Yet Again
At the NSE, it got listed at Rs 275. The company’s market valuation stood at Rs 5,157.71 crore during early trade. Also Read - PMC Bank Case: EOW Arrests Three Directors, to be Produced in Mumbai Court on Dec 4
The initial public offering (IPO) of Kerala-based CSB Bank was subscribed a whopping 86.89 times late last month. The company’s Rs 410 crore IPO, was in a price band of Rs 193-195 per share. Also Read - Depositors Will Get Only Rs 1 lakh as Insurance Cover, Not Entire Money, When Banks Liquidate: DICGC
Axis Capital and IIFL Securities were the managers of the offer. The category reserved for qualified institutional buyers (QIBs) was subscribed 62.18 times, non-institutional investors 164.68 times and retail individual investors 44.25 times.
The company’s Rs 410 crore IPO, was in a price band of Rs 193-195 per share.
CSB Bank’s IPO ran from November 22-26.