Saturday, 15 July 2017

CATHOLIC SYRIAN BANK PRE-IPO UNLISTED SHARES ARE IN DEMAND NOW


Catholic Syrian Bank Ltd also pronounced as CSB, was incorporated in year 1920 at ThrissurKerala. Catholic Syrian Bank Ltd initially for the first two decades focused is operations only in the state of Kerala. During 1960, with strategies of merger and acquisition Catholic Syrian Bank took over the assets and liabilities of 5 small banks located in Kerala thereby initiating its expansion plan. As on date since 2016, company owns around 429 branches and 240 ATMs network all across India.


IPO RECONSIDRATION:

Catholic Syrian Bank Ltd has filled draft prospect for IPO with SEBI in March 2015 to raise Rs.400 Crs. Due to market condition not been favorable for the IPO and other relevant factors board of directors did not proceed with the IPO plan. But the company continues to make preferential allotment per IPO which shall be available as offer for sale when the IPO process is taken up once again. At the time of IPO (2015-2016) news PE valuators had valued the company at Rs. 4000-4800 Crs.

Catholic Syrian Bank Ltd is once again considering for Initial Public Offering (IPO) after the deal with Prem Watsa failed due to pricing and valuation differences. The external agency appointed by CSB i.e. Catholic Syrian Bank Ltd arrived at a valuation of Rs.165- 200 / per share plus a control premium of atleast 15%, this valuation was not acceptable by Fairfax owned by Mr. Prem Watsa due to which the deal canceled off. Currently management of CSB is seriously deciding upon the IPO and also continues to explore a private stake sale.

(Read article on IPOCSE IPO ALERT/ IPO RECONSIDERATION)


Financial Highlights – 2017 & 2016      (Fig. in crs)

Particulars
2017
2016
Total Income
1617.5
1588
PAT
1.55
-150
EPS
0.19
-20.86
CAR
12.15%
10.55%
Gross NPA
7.25%
5.62%
Net NPA
5.51%
4.40%
ROA
0.01%
-0.92
EQ
81.01
71.76
FV
10
10
BV
123
124
Advances
8118
7852
Deposits
14911
14438



For buying and selling any unquoted / unlisted / delisted or suspended shares in physical or demat you can reach us at Contact No.91+ 09215709100 or Email us on mittalmanish2003@gmail.com









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