Fairfax Group to Sell 9.72% Stake in CSB Bank

FIH Mauritius Investments, a promoter of CSB Bank, is expected to sell a 9.72% stake in the Kerala-based bank for about Rs 595 crore through a block deal. This sale will reduce their stake from 49.72% to 40%. The floor price for the shares is set at around Rs 352 per share, representing a 1% discount. Regulatory changes have allowed bank promoters to retain higher stakes, such as 26%, challenging previous ownership regulations in the industry.