CSB Bank makes strong debut, jumps 41% against issue price of Rs 195; m-cap stands at Rs 5,157.71 cr

New Delhi: The scrip of CSB Bank made a strong debut at the bourses on Wednesday, listing with a premium of 41 percent, against its issue price of Rs 195.

The scrip debuted at Rs 275, up 41 percent at the BSE. Later, it touched a high of Rs 304, reflecting a sharp jump of 55.89 percent. At the NSE, it got listed at Rs 275. [caption id=“attachment_6013191” align=“alignleft” width=“380”] Representational image. Reuters[/caption] The company’s market valuation stood at Rs 5,157.71 crore during early trade. The initial public offering (IPO) of Kerala-based CSB Bank was subscribed a whopping 86.89 times late last month. The company’s Rs 410 crore IPO, was in a price band of Rs 193-195 per share. Axis Capital and IIFL Securities were the managers of the offer. The category reserved for qualified institutional buyers (QIBs) was subscribed 62.18 times, non-institutional investors 164.68 times and retail individual investors 44.25 times. The company’s Rs 410 crore IPO, was in a price band of Rs 193-195 per share. CSB Bank’s IPO ran from November 22-26.