CSB Bank files for IPO

CSB Bank Limited which is based in Kerala along with having presence in Tamil Nadu, Karnataka and Maharashtra has filed its DRHP with SEBI.

Catholic Syrian Bank (CSB Bank Limited) is one of the oldest private sector banks in India having a history of over 98 years.

The IPO Initial Public Offering (IPO) comprises of fresh issue aggregating up to Rs. 300 million ("Fresh Issue") and an offer for sale of up to 19,778,298 Equity Shares aggregating to by the selling shareholders, ("Offer For Sale").

The Net Proceeds from the Fresh Issue are proposed to be utilised towards to augment Bank's Tier - I capital base to meet Bank's future capital requirements which are expected to arise out of growth in our Bank's assets, primarily our Bank's loans/advances and investment portfolio, and to ensure compliance with Basel III and other RBI guidelines.

Axis Capital Limited and IIFL Securities Limited are the Book Running Lead Managers (BRLMs) to the issue.

The equity shares will be listed on BSE and NSE.