Kerala based lender raises ₹184 crore from anchor investors ahead of IPO
By MYBRANDBOOK
Ahead of its IPO, Kerala-based lender CSB Bank (formerly known as Catholic Syrian Bank) on Thursday has raised over ₹184 crore from 24 anchor investors, according to a regulatory filing.
The shares have been sold to anchor investors at ₹195 apiece – the upper end of the initial public offering (IPO) price band.
“Under anchor investors portion in the public issue of CSB Bank Limited, 94, 54,080 equity shares have been subscribed today at Rs. 195/- per equity share," the regulatory filing said. At Rs 195 apiece, total proceeds from anchor investors would be a shade higher than ₹184 crore.
Some of the anchor investors are Omers Administration Corporation OAC Custody Account (SCV6), ICICI Prudential MF, SBI MF, Aditya Birla Sun Life Trustee, Axis MF, Sundaram MF, HSBC and Ashoka India Opportunities Fund. Axis Capital and IIFL Securities are the lead managers to the issue.
The share sale will be open from 22-26 November.
The 98-year-old bank—one of the oldest private lenders in India—had 1.3 million customers as on 30 September. It has a strong base in southern states, especially Kerala, which houses more than half of its branches.
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