Subscribe to Jana Small Finance Bank IPO for vital insights

February 6, 2024
1 min read

A couple of key points:

  • Jana Small Finance Bank is set to launch its IPO this week.
  • The IPO price band is set at ₹393 to ₹414 per equity share.

Jana Small Finance Bank, a non-banking finance company, is preparing to launch its initial public offering (IPO) this week. The IPO will be open for subscription from February 7 to February 9. The price band for the IPO has been set at ₹393 to ₹414 per equity share. Around 50% of the issue is reserved for Qualified Institutional Buyers, 35% for retail investors, and 15% for NII investors. The bank primarily offers MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two-wheeler loans, and gold loans.

Between March 31, 2023, and March 31, 2022, Jana Small Finance Bank saw a 20.82% increase in revenue and a 1365.12% increase in profit after tax (PAT). The proceeds from the IPO will be used to augment the bank’s Tier-1 capital base and to meet the expenses related to the issue. The bank expects to benefit from listing its shares on the stock exchanges.

Before subscribing to the Jana Small Finance Bank IPO, investors should consider the following:

  • The IPO dates: The book build issue will be open from February 7 to February 9, 2024.
  • The IPO price band: The price band for the public issue is set at ₹393 to ₹414 per equity share.
  • The IPO size: The bank aims to raise ₹570 crore from the IPO, with ₹462 crore for the issuance of fresh shares and ₹108 crore for the OFS route.
  • The IPO lot size: Each lot of the public issue will comprise 36 company shares.
  • The IPO promoters: The promoters of the company are Jana Capital Limited and Jana Holdings Limited.
  • The IPO allotment and listing dates: The IPO allotment date is expected to be on February 12, 2024, and the listing date is tentatively set for February 14, 2024.
  • The registrar of the IPO: KFin Technologies Limited has been appointed as the official registrar of the book build issue.
  • The book running lead managers: Axis Capital Limited, ICICI Securities Limited, and SBI Capital Markets Limited are the book running lead managers of the IPO.
  • The IPO grey market premium (GMP): Currently, the shares of Jana Small Finance Bank are trading at ₹80 apiece in the grey market.

Overall, the Jana Small Finance Bank IPO presents an opportunity for investors to subscribe to the bank’s shares at a price band of ₹393 to ₹414 per equity share. Investors should carefully consider all the relevant factors before making an investment decision.

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