CSB Bank shares surge 7% as FIH Mauritius likely offloads stake via block deal

Shares of CSB Bank, headquartered in Kerala, surged by 7% during the early trading session on the BSE, reaching Rs 382.10 per share. This increase followed news of investment firm FIH Mauritius selling a significant 9.6% stake in the bank through a block deal. The transaction, managed by IIFL, involved the sale of 1.68 crore shares of CSB Bank at a price of Rs 352.40 per share, reflecting a 1% discount to the previous day's closing price of Rs 355.95.