The bank had hit the market with a 2:3 rights issue of 49.5 lakh shares of Rs 10 each with a premium of Rs 22 each early this month. The issue closed on December 22. The bank has issued shares for the first time since the last six years.

CSBL chairman RP Joshwa said the overwhelming response to the issue mirrored shareholders' confidence in the bank. He said the rights issue was the management's first step towards bolstering the bank's capital base.

CSBL has estimated an issue capital base of around 8 per cent by the end of the current financial year. At present, CSBL has one of the lowest capital adequacy ratio among the private sector banks in the country.