CSB Bank IPO subscribed 87 times on final day of bidding

The initial public offering of CSB Bank was subscribed to a whopping 86.89 times on the final day of bidding on Tuesday. The initial public offering (IPO) of the Kerala-based company received bids for over 100 crore shares against the total issue size of 1.15 crore shares, as per NSE data till 18:45 hrs.

The category reserved for qualified institutional buyers (QIBs) was subscribed 62.18 times, noninstitutional investors 164.68 times and retail individual investors 44.25 times, according to merchant banking sources. CSB Bank's IPO was subscribed to 4.35 times on the second day of bidding on Monday.

The IPO comprises a fresh issue of Rs 24 crore and an offer-for-sale of 1,97,78,298 equity shares, including an anchor portion of 94,54,080 equity shares. CSB Bank on Thursday raised Rs 184 crore from anchor investors.

The company's Rs 410 crore IPO, is in a price band of Rs 193-195 per share. Axis Capital and IIFL Securities are managing the offer.