CSB Bank was incorporated on November 26, 1920. It 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 a significant presence in Tamil Nadu, Karnataka, and Maharashtra.
| Bidding Dates |
|---|
| 22 Nov 2019 - 26 Nov 2019 |
| Subscription |
|---|
| 86.91x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,625 | 1 | 13 | 75 | 21.0 M | ₹193 - ₹195 | 87.88 % | ₹4057.2 M - ₹4099.3 M | RHP DOC |
CSB Bank IPO SUBSCRIPTION STATUS
26 Nov '19CSB Bank IPO overall subscription rate was 86.91 times the total available shares
CSB Bank IPO retail subscription rate was 44.46 times in the retail segment
CSB Bank IPO non-institutional investor subscription rate was 164.68 times in the non-institutional investor category
CSB Bank IPO Qualified Institutional Bidder subscription rate was 62.18 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
25 Nov 2019 (Day 2) | 21.53x | 1.07x | 0.26x |
26 Nov 2019 (Day 3) | 44.46x | 164.68x | 62.18x |
22 Nov 2019 (Day 1) | 5.6x | 0.1x | 0x |
CSB Bank FINANCIALS
| Period | Net Profit (Rs in millions) | Interest earned (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 6MFY20 | -4,696.9 | 7,323.0 | -6,409.9 | -6,494.1 |
| FY19 | -5,139.6 | 13,475.2 | -8,932.4 | -9,153.9 |
| FY18 | -4,482.7 | 12,968.1 | 268.4 | 90.5 |
| FY17 | -3,196.3 | 13,363.0 | 3,954.2 | 3,784.3 |
CSB Bank IPO SUBSCRIPTION STATUS DETAILS
CSB Bank had 21.0 M shares on offer
CSB Bank IPO offer price was in the range ₹193 - ₹195
CSB Bank IPO minimum Investment was ₹14625
CSB Bank IPO issue size was ₹ 4057.2 M - ₹ 4099.3 M
CSB Bank had a minimum lot size of 75 Shares per application
CSB Bank NUMBER OF SHARES ON OFFER
CSB Bank IPO IMPORTANT DATES
| Issue Open Date | 22 Nov 2019 |
| Issue close Date | 26 Nov 2019 |
| Allotment Date | 02 Dec 2019 |
| Refund Date | 03 Dec 2019 |
| Demat Account Credit Date | 03 Dec 2019 |
| Listing Date | 04 Dec 2019 |
| Listing on Exchange(s) | NSE and BSE |
| CSB Bank Allotment Status | Exchange |
CSB Bank IPO subscription opened on 22 Nov 2019, and closed on 26 Nov 2019
IPO allotment for CSB Bank was finalized on Monday, 02 Dec 2019
IPO listing for CSB Bank was on NSE and BSE on Wednesday, 04 Dec 2019
CSB Bank IPO LISTING GAINS
| Issue Price (adjusted) | 195.0 |
| Listing Open Price | 275.0 |
| Listing Close Price | 300.1 |
| Listing Gain% | 41.0% |
| Current Gain% | 66.4% |
CSB Bank Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| CSB Bank Ltd. | 324.6 | 5629.5 | 8.5 | 0.8 | 1.2 | 12.9 | 1.1 | 5681.8 | 24.3 | 633.2 | 6.6 | 38.3 | 10.9 |
| HDFC Bank Ltd. | 729 | 1123344.7 | 14.2 | 1.2 | 3.2 | 13 | 1.5 | 495462.8 | 5.2 | 76026 | 7.4 | 51.3 | 12 |
| ICICI Bank Ltd. | 1429.6 | 1025859.3 | 18.3 | 3 | 5.2 | 15.1 | 1.8 | 312118.4 | 6 | 54207.7 | 6.2 | 78.2 | 6 |
| State Bank of India | 1066 | 983983.8 | 11.4 | 1.3 | 1.9 | 14.8 | 1 | 712643.5 | 7.4 | 83298.8 | 7.4 | 93.4 | 8.5 |
| Kotak Mahindra Bank Ltd. | 392.9 | 390832.2 | 19.3 | 3.2 | 5.5 | 10.6 | 1.9 | 107947.6 | 1 | 19287.9 | -12.8 | 20.4 | 6 |
| Axis Bank Ltd. | 1229.8 | 382670.7 | 13.8 | -43.2 | 2.8 | 12.3 | 1.4 | 162212 | 4 | 26384.8 | -6 | 89.3 | -0.3 |
CSB Bank INFORMATION ON IPO ISSUE
About CSB Bank
CSB Bank was incorporated on November 26, 1920. It 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 a significant presence in Tamil Nadu, Karnataka, and Maharashtra.
Object of the Issue
- To augment bank's Tier-I capital base to meet the bank's future capital requirements
- To achieve the benefits of listing the equity shares on the Stock Exchanges and offer for sale
CSB Bank - PROMOTERS
| Name |
|---|
| FIH Mauritius Investments limited |
CSB Bank Book Running Lead Manager
Axis Capital Limited
csb.ipo@axiscap.in
IIFL Securities Limited
csb.ipo@iiflcap.com
CSB Bank Registrar to the Offer
Link Intime India Private Limited
csb.ipo@linkintime.co.in
CSB Bank Strengths
Strong channel network and trusted brand in South India
The bank operates in 16 States and four Union Territories in India, reaching 1.3 million customers through 412 branches and 290 ATMs, as of September 30, 2019
Strong capital base for growth
Pursuant to a preferential allotment of equity shares and warrants to FIHM, for which the bank received Rs 7,20.7 crore in Fiscal 2019 and the balance amount of Rs 4,86.9 crore in Fiscal 2020
Retail offering driven by strong gold loan portfolio
Gold loans constituted a major portion of the bank's advances, contributing 24%, 26%, 31% and 33.17% of the bank's total advances as of March 31, 2017, March 31, 2018, March 31, 2019
CSB Bank Risks
Dependent on NPAs
Business and financial performance could suffer if the bank is unable to effectively manage the level of NPAs
Geographically concentrated
The bank is regionally concentrated in southern India, especially in Kerala
IPO FAQs
This IPO consists of an offer for sale of up to Rs 385.7 crore, of 19,778,298 shares. It also consists of a fresh issue of Rs 24.0 crore.
The promoter of the company is FIH Mauritius Investments limited.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 193.0 - 195.0.
The IPO application opens on Nov 22, 2019 and closes on Nov 26, 2019.
The minimum lot size for the IPO is 75. The maximum lot size for the IPO is 975.
For all category investors, the minimum application amount for this IPO is Rs. 14,625.0, the maximum value for this IPO is Rs 190,125.0.
This IPO will be allotted on Dec 02, 2019.
The refund will be credited to your account on Dec 03, 2019.
The allotted shares will be credited to your demat on Dec 03, 2019.
CSB Bank Ltd.’s shares listed on the stock exchanges on Dec 04, 2019.