CSB Bank’s initial public offering was subscribed 13.8 times so far on the last day of the share sale on Tuesday. As of 2 PM, the CSB Bank IPO received 15,94,07,175 bids against the total issue size of 1.15 crore shares, according to data available with NSE.

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The CSB IPO has a price band of Rs 193-Rs195 per share, aiming to raise Rs 410 crore at the higher end of the price range. Most brokerages recommended 'subscribe' for the issue, citing a strong channel network and brand reputation in South India.

The bank also has a strong capital base for growth and a well-established SME business and most of its retail offerings are driven by strong gold demand, they said.

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At the end of Monday, the CSB Bank IPO was subscribed over 4 times. While qualified institutional buyers category was subscribed 26 percent, the non-institutional investors' segment was fully subscribed. Retail individual investors category was subscribed 21.53 times.

The IPO comprises a fresh issue of shares of face value Rs 10 each with an aim to raise Rs 24 crore and an offer for sale (OFS) of 1.97 crore shares worth Rs 385 crore by existing investors.

CSB Bank plans to use the proceeds towards increasing its Tier-I capital base to meet future capital requirements and for general corporate purposes.

Post the IPO listing, CSB Bank's market cap would be Rs 3,348 – 3,382 crore.

Axis Capital and IIFL Securities are the book-running manager for the CSB Bank IPO. Link Intime India is the registrar.

The stock will be listed on the BSE and the NSE.