CSB Bank IPO Review

IPO Status: Closed [22nd Nov 2019 to 26th Nov 2019]

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Incorporated Year: 1920
Sector: Banking and Finance
Website: https://www.csb.co.in/

CSB Bank IPO

The IPO of CSB Bank opens on 22nd Nov and closes on 26th Nov 2019. The company is offering shares in the price band of ₹193 to ₹195 per equity share.

About CSB Bank Limited

The CSB Bank is India’s oldest private sector bank with a history of over 98 years. The bank has approx 1.3 million customers as of 31st March 2019. The bank has strong presence in Kerela and also branches in Tamil Nadu, Karnataka, and Maharashtra having 414 branches and 277 ATMs across India.

The major business areas of CSB Bank are

  • Retail Banking

    Retail banking business of CSB Bank includes loan and deposit products to residents and NRI customers. Under deposit products bank offers current accounts, saving account, fixed deposits, recurring deposits and corporate salary accounts. The lending products include gold loans, vehicle loans, personal loans, housing loans, agricultural loans and education loans. The bank has tie-up with major money transfer agents and exchange houses to provide inwards remittance services.

  • Wholesale Banking

    Wholesale banking business is referred to banking services between merchant banks and other financial institutions and corporates. The CSB Bank caters to large and mid-size corporates and other businesses with credit requirements of 25 cr and above.

  • SME Banking

    Small and medium enterprise (SME) banking business services of the CSB Bank includes term loans, working capital loans, letter of credit and bank guarantees to financial institutions, vendors and dealers of corporates and agriculture & allied businesses. As SME loans are for smaller individual exposure, it mitigates credit risk for CSB Bank.

  • Treasury Operations

    The CSB Bank treasury operations includes statutory reserves management, asset liability management, liquidity management, investment and trading of securities, money market and foreign exchange activities. The treasury operations are aimed at maintaining an optimum level of liquidity required as per RBI mandated CRR and SLR.

  • Other Services

    CSB Bank also offers distribution of life insurance products of Edelweiss Tokio Life Insurance, HDFC Life Insurance and ICICI Prudential Life Insurance.

The bank also offer General Insurance products of ICICI Lombard and Reliance General Insurance Company Limited.

The bank's total assets increased from ₹: 161,276 million in 2017 to ₹: 169,112 million in 2019. In FY 18-19, FIH Mauritius Investments Ltd (FIHM), the subsidiary of Fairfax India Holdings (FIH) Limited acquired 51% stake in CSB Bank. Under new management, branches will be mostly responsible for deposits, cross-selling and customer servicing along with all loan products.

CSB Bank IPO Objective

  • Fresh Issue – to augment bank’s tier-1 capital base to meet future capital requirements.
  • Offer for sale - to achieve the benefits of listing the equity shares on the stock exchanges.

CSB BANK IPO Updates

  • The Anchor Investors bidding start one day in advance - 21st Nov, 2019
  • Investors Portion: QIB=75% of the offer, NIB=15% of the offer and Retail=10% of the offer
  • Price Band and lot size is going to declare two days in advance.

CSB Bank IPO Subscription Details

Latest update on CSB Bank IPO Subscription.

    CSB Bank IPO Subscription
    Details Qualified Institutinol Buyers(QIB) Non Institutinol Investors (NII) Retail Individual Investors (RII) Total
    Shares Available 6,302,721 3,151,360 2,100,906 11,554,987
    Day 1 - Nov 22, 2019 17:01 0.00x 0.10x 5.60x 1.05x
    Day 2 - Nov 25, 2019 17:01 0.26x 1.07x 21.53x 4.35x
    Day 3 - Nov 26, 2019 19:01 61.18x 164.68x 44.36x 86.90x

CSB Bank IPO Details

CSB Bank IPO details includes issue size, issue price, discount information, minimum and maximum order quantity, promoters holding details, NSE and BSE code.

    CSB Bank IPO Details
    CSB Bank Issue Details Values
    IPO Category Mainline
    IPO Issue Type Book Built Issue IPO
    IPO Issue Size ₹405.72-₹409.68 Cr
    Offer for Sale 19,778,298 Eq Shares of ₹10
    Fresh Issue ₹24.00 Cr
    Face Value ₹10 Per Equity Share
    IPO Issue Price ₹193-₹195
    IPO Discount ₹0
    Market Lot 75 shares
    Min Order Qty 75 shares (1 Lot)
    Max Retail Qty 975 shares (13 Lots)
    Promoter Holding Pre IPO 50.09%
    Promoter Holding Post IPO 49.70%
    IPO Listing At NSE, BSE
    BSE Code 542867
    NSE Code CSBBANK

CSB Bank Financials for past 3 Years

Past performance and financial results of CSB Bank.

    CSB Bank financial
    CSB Bank IPO Financials 31-Mar-2019 31-Mar-2018 31-Mar-2017
    Total Assets ₹16453.46 Cr ₹15334.66 Cr ₹15770.03 Cr
    Total Expense ₹1483.43 Cr ₹1422.23 Cr ₹1617.49 Cr
    Net Profit/Loss (₹65.69 Cr) (₹127.09 Cr) (₹57.99 Cr)
    Adjustment for Profit/Loss C/F (₹513.96 Cr) (₹448.27 Cr) (₹319.63 Cr)

CSB Bank IPO Strengths

  • Trusted brand in South India and Strong Branch Network.
  • After FIHMs investment, the bank has strong capital base for growth.
  • Strong hold in SME business which is low credit risk business.
  • Significant growth in gold loan business year on year.
  • Reliable and stable deposit base due to NRI customers.
  • Aggressive plan to increase branches in coming year.
  • Planning to invest in technology to increase operational efficiency, scalability and customer experience.
  • Effective risk management process.

CSB Bank IPO Threats/Weaknesses

  • NPA Recovery.
  • Regional concentration in southern India. Any adverse changes in the economic, political or geographical conditions can impact company performance.
  • Volatility in the gold market price can have adversely affected in company financial conditions, cash flows and results.
  • The bank has exposure to 4.73% in textiles sector, 1.76% in Food processing, where 19.38% in NBFC including HFCs and 7.96% in Trade (Wholesale & retail) service, any difficulties in such sectors can impact the bank performance.

CSB Bank IPO Important Dates

In this section we have covered all imporatant dates related to CSB Bank IPO. Dates are updated as they are announced. The most noted dates are IPO start date and IPO end date, which one should use to participate in IPO.

    CSB Bank IPO important dates
    IPO Activity Date
    IPO Issue Open Date 22nd Nov 2019
    IPO Issue Close Date 26th Nov 2019
    Basis of Allotment Finalisation Date* 2nd Dec 2019
    Refunds Initiation* 2nd Dec 2019
    Credit of Shares to Demat Account* 3rd Dec 2019
    IPO Listing Date* 4th Dec 2019

* - Tentative Dates

CSB Bank IPO Draft Prospectus >>Document

CSB Bank IPO Red Herring Prospectus >>Document

CSB Bank IPO Allotment Status >>Link

Company Address

CSB Bank Limited
CSB Bhavan, Post Box No. 502,
St. Mary’s College Road,
Thrissur 680020,
Kerala, India

Website: https://www.csb.co.in/
Email: [email protected]
Phone: +91 487 2333 020, +91 487 2338 764

Registrar

Link Intime India Private Limited,
C-101, 1st Floor,
247 Park L.B.S Marg,
Vikhroli (West) Mumbai 400 083
Phone: +91 22 4918 6200
E-mail: [email protected]
Website: www.linkintime.co.in

Lead Manager

  • Axis Capital Limited
  • IIFL Securities Limited
  • CSB Bank IPO Important dates - Issue Open Date, close Date, IPO Listing Date. IPO Details - Offer Size, Issue Size, Type of IPO, Issue Price, Market Lot, BSE Cd, NSE Cd, IPO Listing date. What is the issue open date and close date for CSB Bank? Should I apply in CSB Bank IPO?

    Last Updated on 2019-12-03T22:48:15+00:00

    CSB Bank IPO FAQs

    1. 1 .How to subscribe CSB Bank IPO in Zerodha?

      Now you can apply in online IPO application via Zerodha back office software "console". You can subscribe CSB Bank IPO with Zerodha. You need to apply application online using UPI payment mode. To purchase CSB Bank IPO with Zerodha, you must be Zerodha customer and have UPI payment setup. For more details please visit detail article Step by Step Guide to apply CSB Bank IPO with Zerodha.

      Alternate approch to apply in CSB Bank IPO is ASBA. You can use Zerodha DP information and apply online via ASBA with your prefered net banking user id.

      CSB Bank IPO Review and Important Updates

      Other revelevent question on same topics are:

      How to subscribe CSB Bank IPO Zerodha? How to purchase CSB Bank IPO on Zerodha? CSB Bank IPO how to buy Zerodha? CSB Bank IPO Zerodha apply. CSB Bank IPO purchase Zerodha. CSB Bank IPO with Zerodha. CSB Bank IPO at Zerodha. CSB Bank IPO kite Zerodha. CSB Bank IPO using Zerodha. CSB Bank IPO via Zerodha.

      Discuss this question

    2. 2 .How to apply in CSB Bank IPO online?

      Apply in CSB Bank IPO online

      To subscribe or apply in CSB Bank IPO, you can use the following methods:

      CSB Bank IPO Applying ModeMethodDetails
      Online Application3-in-1 Trading Account

      If your broker is 3-in-1 service provider, you can apply in CSB Bank IPO directly with your brokers website. Example HDFC Security, ICICI Direct, AxisDirect and so on are 3-in-1 brokers provide you direct IPO investment.

      Online Application2-in-1 Trading Account

      Brokers like Zerodha, TradeSmart Online are providing you access to applying in CSB Bank IPO with their in-house developed platform. You need to apply in IPO via UPI payment method. You must have access of your UPI mandate to apply in IPO online.

      Online ApplicationASBA

      This is one of the most popular mode of applying in CSB Bank IPO. Max syndicate bank provide you access to apply in CSB Bank IPO via ASBA process. You must have your net banking access, DP ID information to apply in CSB Bank IPO via ASBA. Bank like Axis, SBI allows you to apply max 5 application from one bank account. Where ICICI, HDFC bank have limit of one IPO ASBA application per account.

      Offline ApplicationPhysical Form

      You can apply in CSB Bank IPO via physical application, but you can’t apply physical application via ASBA. You need to apply physical application via UPI mode of payment and need to approve the mandate of UPI with your registered phone number with your UPI provider. You can use BHIM app or banks mobile app who support UPI process like SBI, HSBC, Axis, ICICI, HDFC, Yes Bank, Citi Bank mobile app.

      CSB Bank IPO Review and Important Updates

      Other revelevent question on same topics are:

      Where to subscribe CSB Bank IPO? Where to apply for CSB Bank IPO? How to subscribe CSB Bank IPO online? CSB Bank IPO where to apply? Where to buy CSB Bank IPO online? How to buy CSB Bank IPO online? How to purchase CSB Bank IPO? How to get CSB Bank IPO? How to book CSB Bank IPO? How to invest CSB Bank IPO? CSB Bank IPO kaise buy kare?

      Discuss this question

    3. 3 .How to download online application form for CSB Bank IPO?

      Applying in CSB Bank IPO is very easy and quick process via ASBA. You can use your net banking user id and password to apply in IPO. In case you want to submit physical application, you can download CSB Bank IPO application online and submit to nearest bank or to your broker. With new mandate from SEBI all physical application need to use UPI mode of payment. In such case you have to setup UPI and provide your UPI information in physical application. Once your bank receives your application they will use UPI ID to block your money. You will get UPI mandate and need to approve the same to submit your application.

      For more details on how to use UPI payment method to apply CSB Bank IPO, please refer article >> Link

      CSB Bank IPO Review and Important Updates

      Steps to download the online application form for CSB Bank IPO

      • Step1:Click here.
      • Step2: Click on “Bid-cum Application Form Download
      • Step3: Above Step will open an online form.
      • Step4: Enter your Name, PAN, DP Type, DP Information, UPI No, Bank information (Do not enter), Address, email, phone, Transaction Type - "ASBA".
      • Step5: Fill bid details - min 75 shares and max 975 shares (13 Lots).
      • Step6: Now fill the character given in Box, read and agree on terms and conditions and click on the download button.
      • Step7: This will fill your application online and give you a pdf file.
      • Step8: Take a print of this document and go to your bank for UPI transactions.
      • Or

      • You can download “Blank Application Form Download” and fill all the required filed and submit to the nearest bank for UPI transaction.

      Other revelevent question on same topics are:

      How to fill CSB Bank IPO form? How to fill CSB Bank IPO form online? CSB Bank IPO online form? CSB Bank IPO online form fill up? CSB Bank IPO blank form download? CSB Bank IPO bid form? CSB Bank IPO full form? CSB Bank IPO form nse? CSB Bank IPO form bse? CSB Bank IPO form online? CSB Bank IPO form print? CSB Bank IPO application amount?

      Discuss this question

    4. 4 .What is the listing date of CSB Bank IPO?

      CSB Bank IPO is going to be list on 04-12-2019. NSE Code for CSB Bank is CSBBANK. BSE Code for CSB Bank is 542867.

      Other revelevent question on same topics are:

      When CSB Bank IPO will be listing? CSB Bank IPO NSE listing date?CSB Bank IPO date of listing.CSB Bank IPO BSE listing date?

      Discuss this question

    5. 5 .When CSB Bank IPO will be allocated?

      CSB Bank IPO Allotment Date is 02-12-2019.

      Other revelevent question on same topics are:

      CSB Bank IPO share allotment date?CSB Bank IPO allotment date?

      Discuss this question

    6. 6 .When CSB Bank IPO will be open?

      CSB Bank IPO Issue Open Date is 22-11-2019.

      Other revelevent question on same topics are:

      CSB Bank IPO start date? When CSB Bank IPO Open Date? When to invest in CSB Bank IPO?

      Discuss this question

    7. 7 .When CSB Bank IPO will be close?

      CSB Bank IPO Issue Close Date is 26-11-2019.

      Other revelevent question on same topics are:

      CSB Bank IPO end date? When CSB Bank IPO Close Date? Last Date to invest in CSB Bank IPO?

      Discuss this question

    8. 8 .What is price of CSB Bank IPO for retail investor?

      CSB Bank IPO price for retail investor is ₹193-₹195. Company is also offering special discount of ₹0.

      Discuss this question

    9. 9 .What is lot size of CSB Bank IPO for retail investor?

      CSB Bank IPO lot size for retail investor is 75 shares (1 Lot)(Min) and 975 shares (13 Lots) (Max).

      Other revelevent question on same topics are:

      CSB Bank IPO lot details? CSB Bank IPO market lot? CSB Bank IPO details lot size?

      Discuss this question

    10. 10 .Can I invest in CSB Bank IPO via UPI?

      Yes, you can invest in CSB Bank IPO via UPI. If aplying online you can use UPI as well as ASBA any one process, if applting in physical form UPI is mandatory.

      Discuss this question

    11. 11 .What is minimum amount retail investor need to apply for one application of CSB Bank IPO?

      To apply in one application of CSB Bank IPO you need ₹193-₹195(Issue Price) - ₹0 (discount) * 75 shares (1 Lot) (Minum Order Qty) =₹14,625.

      Discuss this question

    12. 12 .How much CSB Bank IPO subscribed?

      CSB Bank IPO Subscription Details

      Latest update on CSB Bank IPO Subscription.

        CSB Bank IPO Subscription
        Details Qualified Institutinol Buyers(QIB) Non Institutinol Investors (NII) Retail Individual Investors (RII) Total
        Shares Available 6,302,721 3,151,360 2,100,906 11,554,987
        Day 1 - Nov 22, 2019 17:01 0.00x 0.10x 5.60x 1.05x
        Day 2 - Nov 25, 2019 17:01 0.26x 1.07x 21.53x 4.35x
        Day 3 - Nov 26, 2019 15:01 40.69x 71.82x 41.37x 49.30x

      Discuss this question

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    User Comments

    avatar
    13. IPO Potter  12/3/2019 12:35:39 PM Reply
    CSB Bank Limited Listing on 4th Dec 2019. NSE Code - CSBBANK, BSE Code - 542867, ISIN No - INE679A01013.

    Expected listing price - 265, Max 295.

    All the best for all the investors who received shares in IPO.
    avatar
    12. Mital Gadhavi  11/25/2019 9:32:23 AM Reply
    Can I apply CSB Bank IPO Tmr?
    avatar
    12.1. admin  11/25/2019 10:21:10 AM
    You can apply up to 2 pm on 26 Nov 2019(Tuesday) from net banking (ASBA) and maybe up to 4 pm on 26 Nov 2019 in the banks where they are accepting the physical applications (please check-up the respective cut-off timings).
    avatar
    12.2. IPO Potter  11/26/2019 12:46:50 PM
    GMP for CSB IPO is 70-75, Apply ....
    avatar
    11. Vijay Nath yadav  11/23/2019 9:20:19 AM Reply
    Can I apply 13 lots of CSB Bank in Retail Category, Please advise?
    avatar
    11.1. IPO Guru  11/23/2019 9:23:11 AM
    Yes, You can apply 13 lots (975 Shares), but keep in mind that on day one retail category is already subscribed 5.6x, so it''s advised to apply only one lot of 75 shares.
    avatar
    10. IPO Updates  11/22/2019 11:15:19 AM Reply

    csb bank ltd ipo - brokerage house analyst recommendations



    • icici direct - subscribe

    • motilal oswal - subscribe for listing gains

    • smc global - subscribe

    • ajcon global - subscribe for listing gains

    • bp equities - subscribe

    • mehta msearch - subscribe for listing gains

    • arihant capital - 3/5 rating

    avatar
    9. Vikash kumar mishra  11/20/2019 3:41:30 PM Reply
    Can we apply CSB IPO form bank?
    avatar
    9.1. Nuthan prabhu  11/20/2019 3:43:13 PM
    Yes, You can apply via ASBA or Bank. When you are applying from Bank, you need to use the UPI payment method.
    avatar
    9.2. Ramamohan T  11/22/2019 9:20:58 AM
    Can I apply 5 different CSB Bank IPO Demat applications through single SBI bank account net banking?
    avatar
    9.3. Nuthan prabhu  11/22/2019 9:23:47 AM
    Yes, You can use ASBA to apply 5 different application through SBI and Axis Bank account. Not each application must be with a unique user (Demat account with different PAN Number).
    avatar
    8. IPO Updates  11/22/2019 9:19:55 AM Reply
    From Moneycontrol. -
    SBI Cards & Payment Services, the country's second-largest credit card provider, is all set to file its draft red herring prospectus (DRHP) early next week and move towards launching the first domestic initial public offer (IPO) by a pure-play credit card company. The Gurgaon-headquartered firm is a subsidiary of the State Bank of India and its IPO is all set to raise around Rs 9000 crore, making it the biggest listing yet in FY20.
    avatar
    7. IPO Guru  11/22/2019 9:15:04 AM Reply
    Anchor Investor Update for CSB Bank IPO-
    "OMERS " Canada''s largest defined pension plans got about 38% of the equity shares available for allocation under the Anchor Investor Portion of CSB.
    The other anchor investors include Aditya Birla Sun Life Mutual Fund (MF), Axis MF, ICICI Prudential MF, Sundaram MF, SBI MF, Ashoka India opportunities Fund, Jupiter India Fund.
    avatar
    7.1. Nuthan prabhu   11/22/2019 9:16:19 AM
    OMERS Administration Corporation (OAC Custody Account - SCV6) has emerged as the single-largest anchor investor in CSB Bank''s initial public offering (IPO), getting an allocation of 37.97 percent of the equity shares available for allocation under the Anchor Investor Portion.
    avatar
    7.2. Gyanendra kumar  11/22/2019 9:17:25 AM
    CSB Bank IPO Updates
    Anchors received a Good Response of 2.5X till 3 PM.
    GMPs 80 Rs
    HNIs are Now Participating in this
    HNIs Book 61.5 CR
    avatar
    6. KBoss   11/14/2019 7:28:32 PM Reply
    What is GMP for CSB IPO?
    avatar
    6.1. Badal Kataria  11/15/2019 9:02:58 AM
    Current GMP for CSB Bank IPO 93-95

    Estimated oversubscription:
    QIB - 100
    Retail 8-9 times
    HNI - 260+
    avatar
    6.2. Gyanendra kumar  11/19/2019 12:20:30 PM
    GMP of CSB IPO is 52-53
    GMP of Ujjivan SFB IPO is about 8
    avatar
    6.3. Siva kumar  11/19/2019 9:02:55 PM
    Current GMP- 55 to 60 Expected listing gain per lot is around 4100
    avatar
    6.4. Hiralal Premraj Borase  11/21/2019 3:44:28 PM
    Latest Kostak Rate for CSB IPO - 4600 Rs @ 76/78 Rs Premium
    avatar
    6.5. Gyanendra kumar  11/21/2019 3:47:05 PM
    Latest update on GMP Price

    USFB IPO GMP 10-11
    CSB Bank IPO GMP 75-77
    avatar
    5. IPO Guru  11/20/2019 8:48:12 AM Reply
    CSB Bank Brokers Meet - Key takeaways

    Capital adequacy at 22% has improved substantially post fair fax infusion.

    Loan book has started to grow at 17-18%, this is helping in an increase in credit deposit ratio, which in turn is helping in better margins. Credit deposit ratio should continue to improve.

    Current book mix - 33% is gold loan, 32% SME, 8% retail and 28% corporate.Going forward growth will be driven by gold, msme and retail.

    A new msme team from a private bank is joining this month to drive msme growth. 2 wheeler and gold loans there is already a very competitive team in place.

    NIM has improved to 3.4% from 2.1% in FY16, margins should continue to improve via a better credit deposit ratio, a better loan book mix (gold loan yields are 12.5% and have an upward bias, MSME yields also upwards of 12%, - both the business should be growth drivers for them with their mix improving sharply)

    Deposits- Bank has cut rates this year and despite the cut seen a 98% renewal rate in retail term deposits, this should help contain cost of funds at low levels. CASA ratio stands at 28%, management intends to take this to over 40% in next few years.

    Operating costs- In last 2 years, employee base has reduced from 3000 to 1900, additionally now the bank is out of the IBA wage agreements, almost all its employees are on CTC basis. Management has reduced employee cost significantly, and they target further reduction. Current average salary per employee is 11.5 lac, where as new employees are being appointed at 3.5-4 lac, it expects a material reduction in costs of wages in next few years.
    Also currently bank has 260 branches which won''t be expanded in a big way, they will shut some branches and open new branches.

    Cost Income ratio- FY19 cost income ratio was 102%, it included one time provisioning of 100 crore on account of VRS given to employees. Currently cost income ratio has improved to 66%, this should further see sharp improvement driven by higher income growth led by better margins and expansion in loan book, at the same time operating cost should be contained in account of continuous reduction in employee cost.

    Asset Quality- currently GNPA is 2% with almost 80% Provision cover. All of the legacy problems have been more than addressed and no shocks is expected going ahead. In the new disbursement taken place in last 3 years, they have seen only one major NPA of 25 crore, and as such management is confident of asset quality of the new book. Credit costs are expected to be pretty controlled.

    Promoter holding - Fairfax will own 49.7% stake post listing, it has to get this down to 40% in next 5 years, 30% in 10 years and 15% in next 15 years progressively.

    Post heavy losses in FY18/19, CSB declares operating profit of 90 crore in H1FY20 and 44 crore of PAT. This implies 4.5% ROE.

    Bank post issue Mcap is expected to be 3400 crore, it''s net worth is about 2000 crore currently implying a P/BV of 1.7x TTM.

    View- Quite honestly the sort of turnaround that the bank has achieved in past 18 months is nothing short of phenomenal. Profitability of the bank should see massive improvement in next 2 years driven by higher loan growth, better book mix, high margins and low cost income ratio. Bank can deliver mid teens ROE from FY22, and hence can command a premium to peers. Also CEO seems very confident on its ability to deliver better return ratios, management team quality is also very decent.
    avatar
    4. Sandip Kumar Dey  11/19/2019 9:04:32 PM Reply

    CSB has posted turnaround results in 6MFY20 and has improved its operational and financial performance. We believe the bank should do well with the recent capital raise and its strong risk management frameworks. On the valuation front, at the upper end of the price band, CSB is valued at a 2.31 P/BV and 25.31x P/E. Taking into account huge growth prospects and its comfortable asset quality stock looks attractive for investment. We give "SUBSCRIBE" rating in the stock for listing gains.


    Long term – No view currently.


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