Bank IPO

10-year paper priced at 7.51%, or about 17 bps above benchmark g-sec yield

TMB is looking to issue 15.84 million fresh shares in the IPO. At the upper end of the price band, the bank will raise Rs 832 crore and will be valued at Rs 8,314 crore

The storied bank hopes to put its troubles behind it with its impending IPO

The management of this small, conservative bank views a public issue as a means of ending a long shareholder feud and unlocking value for its next phase of growth

CSB's core strength is its concentration in Kerala and gold loans, which could also turn into its weakness in times of adversity

Centre holds 50 per cent in RRBs while 35 per cent and 15 per cent are with concerned sponsor banks and state governments, respectively