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Catholic Syrian Bank (CSB) Unlisted Share Price
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Catholic Syrian Bank now known as CSB Bank is a leading private sector bank with its headquarters at Thrissur, Kerala. It is one of the oldest banks which began operations on 26 November 1920. It is a full service bank offering Neighborhood Banking, NRI Services, SME and Wholesale banking services. At present, the bank has a network of over 430 branches and more than 240 ATMs across India. The lender also plans to open more branches in a phased manner.
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Catholic Syrian Bank (CSB) Unlisted shares details: Sector: Private sector bank
Face Value: Rs 10
Book Value: Rs 109
Fairfax-backed CSB Bank eyes Rs 400 crore from IPO : 12 August 2019
Prem Watsa’s Fairfax India-backed CSB Bank gears up for listing
Canadian investor Prem Watsa Indian bank has started preparations for a stock market listing this year, its chief executive said. The bank (CSB), in which Watsa Fairfax India Holdings Corp. received approval to take a controlling stake, is gearing up for a listing that may involve a Rs 400 crore ($58 million) initial public offering (IPO), according to chief executive officer C.V.R. Rajendran. The bank is also in talks to raise money from investors and strategic investors including Asian Development Bank, HDFC Life Insurance, Reliance Capital and Edelweiss Tokio.
At the same time, RBI has told the privately held bank that it should list its shares before 30 September this year, according to Fairfax India’s latest annual report.
Catholic Syrian Bank announces proposed investment by Fairfax India
Catholic Syrian Bank announced that Fairfax India Holdings Corporation has formally indicated it’s continued interest in investing 51% in the share capital of the Bank at a mutually agreed price of Rs 140 per share.
Fairfax India is a Canadian investment holding company that invests in public, and private equity securities and debt instruments in India and Indian businesses or other businesses with customers, suppliers or business primarily conducted in, or dependent on, India. Fairfax is headquartered in Toronto, Canada and trades under the symbol “FIH.UN” on the Toronto Stock Exchange.
The bank has taken various initiatives in the past few years to reinvent itself in the highly competitive banking space and the proposed Fairfax India investment will boost these efforts substantially.
The name of the bank has been changed from The Catholic Syrian Bank Limited to CSB Bank Limited with effect from 10 June 2019.