CSB Bank's promoter, FIH Mauritius, plans to sell a 9.72% stake, aiming to raise Rs 595 crore.
CSB Bank's promoter, FIH Mauritius Investments Ltd, plans to sell a 9.72% stake in the bank, aiming to raise Rs 595 crore. The shares will be sold at a floor price of Rs 352.4 per share, which represents a 1% discount compared to the previous day's closing price. Upon execution, FIH Mauritius's stake will decrease from 49.72% to 40%. The decision comes after the Reserve Bank of India (RBI) allowed Fairfax Group to purchase up to a 51% stake in CSB Bank in 2018, making it the first bank with majority foreign ownership in India.
June 26, 2024
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