Catholic Syrian Bank has received Sebi's approval to raise up to Rs. 400 crore through an initial public offering (IPO), according to reports.
The company had filed its draft red herring prospectus (DRHP) with Sebi through its lead merchant banker, ICICI Securities.
The proceeds of the issue will go towards augmenting the bank's capital base to meet its future capital requirements, says report.
The issue is being managed by ICICI Securities and Kotak Mahindra Capital Company.