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    Fairfax-backed Catholic Syrian Bank gears up for listing, says report

    Fairfax-backed Catholic Syrian Bank gears up for listing, says report

    Fairfax-backed Catholic Syrian Bank gears up for listing, says report
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    By CNBC-TV18  IST (Published)

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    Fairfax-backed Catholic Syrian Bank (CSB) is set to list on the exchanges to meet RBI requirements, reported Business Standard.

    Fairfax-backed Catholic Syrian Bank (CSB) is set to list on the exchanges to meet RBI requirements, reported Business Standard.
    Last year, Fairfax got all the approvals to acquire a 51 percent stake in CSB for around Rs 1200 crore. One of the conditions imposed by the RBI required that bank is listed before September 2019.
    According to the report, the bank has hired Axis Capital as an adviser to manage the listing process.
    The bank, the report said, has enough capital for the next three years and is looking at direct listing and IPO to meet the central bank’s norms.
    In addition, the report said, the lender may also opt for an issue with Offer For Sale as the main route but the size of the issue should be at least Rs 400 crore since the company's market capitalisation is over Rs 2,600 crore.
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