The Prem Watsa backed Catholic Syrian Bank( the CSB) is all set to raise 400 Cr from IPO. The CSB bank has filed DRHP with SEBI. The company will issue fresh shares of 30 cr and OFS of 370 Cr.
The issue is a combination of fresh shares and an exit opportunity for investors who were holding shares for years.
In 2018, the RBI has allowed Prem Watsa, Canadian Billionaire to take control of the company and it becomes first Indian bank to be controlled by foreign promoters. The RBI has given permission on the condition that they have to list the bank.
We are accepting the IPO price to be between Rs.185-200.
For more detail about the Catholic Syrian Bank, please click here