CSB Bank fell 4.01% to Rs 248.95, extending its losses for fifth session.
Shares of CSB Bank have tumbled 17.04% in just five trading sessions since listing on bourses on 4 December 2019. Profit booking and overall weak sentiment in the market dragged the stock lower.
The stock listed at Rs 275, a premium of 41.02% over the initial public offer (IPO) price of Rs 195. The stock hit its record high of Rs 314.20 on 5 December 2019. It a record low of Rs 238.95 in intraday today.
The IPO of CSB Bank received bids for 100.44 crore shares as against 1.15 crore shares on offer. The issue was subscribed 86.93 times. The issue opened for bidding on 22 November 2019 and closed on 26 November 2019. The price band was fixed at Rs 193 to Rs 195 per share.
CSB Bank reported a net profit of Rs 44.27 crore on a net interest income of Rs 279.52 crore for the six months ended on 30 September 2019.
CSB Bank, formerly known as The Catholic Syrian Bank, is one of the oldest private sector banks in India with a history of over 98 years and a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra with an overall customer base of 1.3 million end September 2019. The bank is primarily focused in the states of Kerala and Tamil Nadu.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
