Investors who had applied for IPO of CSB Bank, formerly known as Catholic Syrian Bank, can now check their allotment status on the website of Link Intime, the registrar of the issue. The registrars manage IPO allotment according to Sebi guidelines and also handle transfer of shares. CSB Bank share listing is likely to happen on December 4, 2019.
CSB Bank IPO, which was open between November 22 and November 26, was subscribed a whopping 87 times. The IPO of Kerala-based company received bids for over 100 crore shares against the total issue size of 1.15 crore shares. CSB Bank's ₹410 crore IPO was priced in a price band of ₹193-195 per share.
The category reserved for retail individual investors was subscribed 44.25 times, qualified institutional buyers (QIBs) 62.18 times and non-institutional investors 164.68 times, Press Trust of India had reported.
The ₹410 crore offer involved a fresh issue of shares of face value ₹10 each to raise up to ₹24 crore, and an offer for sale (OFS) of 1.97 crore shares by existing investors through which it will sell ₹385 crore of shares.
In case of an over-subscription of an IPO, allotment happens as per predefined rules.
The total number of shares available for retail investors is divided by the minimum lot size, which in CSB Bank IPO's case is 75. This determines the maximum number of applicants who will receive allotment. If the number of applicants are more than this, a lottery is held.
The ₹750 crore IPO of Ujjivan Small Finance Bank also opened for subscription today.