South-based private sector lender CSB Bank will make a debut on bourses December 4 after a massive subscription of 87 times.The Rs 410-crore public issue saw strong subscription from all kinds of investors. The portion set aside for non-institutional investors was subscribed 164.68 times, qualified institutional buyers 62.18 times and retail investors at 44.53 times.Overall, the issue had received bids worth Rs 19,586 crore.Close As a result, most experts expect CSB Bank to list with a hefty premium of more than Rs 50 over its final issue price of Rs 195 per share, the higher end of the price band. related news Technical View: Nifty forms bearish belt hold pattern, more correction likely if index breaks 13 DEMA Time to revisit midcaps? Citigroup picks top 11 stocks that are worth a look In fact, sources told Moneycontrol that the grey market premium is also around 60-65 per share.”With an overwhelming response to CSB Bank IPO, we believe it would list around Rs 250+ levels, which translates to 28 percent premium over the upper end of the IPO price Rs 195. A premium listing seems to be justified, assuming turnaround in business efficiency which is expected to further improve going forward,” Prashanth… Read full this story
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