IPO: CSB Bank mops up Rs 184 crore from anchors

Mumbai: CSB Bank has raised Rs 184.36 crore by allotting 94.54 lakhs shares to 24 anchor investors ahead of its initial public offer which would open for subscription on Friday. Shares were allotted at Rs 195 apiece which is the upper end of the price band.

The anchor investors include domestic mutual funds such as ICICI Prudential, SBI, Aditya Birla, Axis, Sundaram, HSBC and Edelweiss. Others who purchased CSB Bank shares include Omers Administration Corporation, Ashoka India Opportunities Fund, IIFL Special Opportunities Fund, Jupiter India Fund, Aditya Birla Sun Life Insurance Company and Aurigin Master Fund.

The bank, which was earlier known as, The Catholic Syrian Bank, has priced the offer in the range Rs 193-195 per share. The IPO consists of fresh issue aggregating up to Rs 24 crore and an offer for sale of up to 19,778,298 equity shares by the shareholders. The IPO will close on November 26, 2019.