CSB Bank IPO Details

CSB Bank IPO description – CSB Bank is one of the oldest private sector banks in India with a history of over 98 years and has a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra. The bank offers a wide range of products and services to its overall customer base of 1.3 million as on 31 March 2019, with particular focus on SME, Retail, and NRI customers. CSB Bank delivers its products and services through multiple channels, including 414 branches (excluding three service branches and two asset recovery branches) and 277 ATMs spread across 16 states and four union territories as on 31 March 2019.

The bank has four principal business areas, namely, (a) SME banking, (b) retail banking, (c) wholesale banking, and (d) treasury operations.  It is in the process of rebranding itself to “CSB Bank Limited” and is re-aligning its organizational set-up for efficiently driving operations and business strategy. Under this strategy, branches will be responsible only for deposits, cross-selling and customer servicing and all loan products will be driven by dedicated teams, with each business team operating as a profit centre.

Promoters of CSB Bank – FIH Mauritius Investments Ltd

CSB Bank IPO details
Subscription Dates	22 – 26 November 2019
Price Band	INR193 – 195 per share
Fresh issue	1,243,523 shares (INR240 – 242.5 crore)
Offer For Sale	19,778,298 shares (INR381.72 – 385.68 crore)
Total IPO size	INR621.72 – 628.17 crore
Minimum bid (lot size)	75 shares
Face Value	INR10 per share
Retail Allocation	10%
Listing On	NSE, BSE

CSB Bank’s financial performance (in INR crore)
	FY2017	FY2018	FY2019
Revenue	1,617.5	1,422.2	1,483.4
Expenses	1,465.8	1,347.9	1,470.1
Net income	-58.0	-127.1	-65.7
Net margin (%)	-3.6	-8.9	-4.4

More about CSB Bank

• Prem Watsa-backed CSB Bank, two other file IPO prospectus

CSB Bank Contact Details

CSB Bank Limited
CSB Bhavan’, Post Box No. 502,
St. Mary’s College Road,
Thrissur 680 020, Kerala, India Phone: +91 487 2333 020
Email: [email protected]
Website: www.csb.co.in

Registrar of CSB Bank IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083 Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website: http://www.linkintime.co.in

Valuation of CSB Bank (as of FY2019, after conversion of warrants and ESOP allotment)

Earnings Per Share (EPS): -INR3.81

Price/Earnings (PE ratio): To be updated

Return on Net Worth (RONW): -4.48%

Net Asset Value (NAV): INR85.12 per share

CSB Bank IPO Subscription Details

Category	Shares offered	Subscription (no. of times)
		Day 1	Day 2	Day 3
QIB	6,302,721	0.00	0.26	62.18
NII	3,151,360	0.10	1.07	164.68
Retail	2,100,906	5.60	21.53	44.46
Total	11,554,987	1.05	4.35	86.91

CSB Bank IPO Analyst Reviews 

Ajcon Global – Subscribe

Angel Broking – Neutral

ICICIdirect – Subscribe

Choice Broking – Avoid

Hem Securities – Subscribe

CSB Bank IPO Allotment Status

CSB Bank IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.

Listing Performance of CSB Bank

IPO Opening Date: 22 November 2019

IPO Closing Date: 26 November 2019

Finalisation of Basis of Allotment: 2 December 2019

Initiation of refunds: 3 December 2019

Transfer of shares to demat accounts: 3 December 2019

Listing Date: 4 December 2019

Opening Price on NSE: INR275 per share (up 41.03% from IPO price)

Closing Price on NSE: INR300.05 per share (up 53.87% from IPO price)