Jana Small Finance Bank Limited IPO Opens On February 07. Check IPO Details Issue Date Price

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Jana Small Finance Bank Limited IPO Opens On February 07. Check IPO Details Issue Date Price

February 07, 2024
Jana Small Finance Bank Limited IPO Opens On February 07. Check IPO Details Issue Date Price

Jana Small Finance Bank Ltd is coming out with a public issue to raise Rs 570 crores from the market.

Below are the details of the Jana Small Finance Bank Limited IPO:

  • Issue opens – February 07 (Wednesday)
  • Issue closes – February 09 (Friday)
  • Issue size – Rs 570 crores
  • Price band – Rs 393 to 414 per equity share
  • Bid lot – 36 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company Details:

  • Jana Small Finance Bank (“Jana SFB”) was incorporated as ‘Janalakshmi Financial Services Private Limited’ on July 24, 2006, at Bengaluru, Karnataka as a private limited company. It started operating as a Small Finance Bank w.e.f. March 28, 2018. Jana SFB is the 4th largest Small Finance Bank in terms of AUM and the 4th largest Small Finance Bank in terms of deposit size as at September 30, 2023.
  • Jana SFB had 771 banking outlets, including 278 banking outlets in unbanked rural centres, in 22 states and 2 union territories as on September 30, 2023. It has served nearly 12 million customers since 2008, including 4.87 million active customers as at September 30, 2023.
  • The bank’s primary secured loan products are secured business loans, micro loans against property (“Micro LAP”), MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, 2-wheeler loans, and gold loans.
  • Jana SFB is also a corporate agent for third-party life insurance products, general (non-life) insurance products and health insurance products, including COVID-19 insurance products.
  • Jana SFB was amongst the Top-5 Small Finance Banks in term of share of Retail Deposits (comprising CASA and Retail Term Deposits) as a percentage of total deposits among all Small Finance Banks as at March 31, 2023.
  • Jana SFB has placed a strong emphasis on increasing their Retail Deposits, and with its low-cost, diversified Retail Deposit base, the bank has decreased its Cost of Funds from 8.61% as at March 31, 2021, to 7.02% as at March 31, 2023.

Issue Size: Rs. 570 crores

Employee Reservation: Equity Shares aggregating up to Rs. 13.50 Crores

Issue Break-up:

QIB – 50% of the net offer – Rs 278.25 crores

NIB – 15% of the net offer – Rs 83.47 crores

RET – 35% of the net offer – Rs 194.77 crores

Listing: BSE and NSE

Registrar: KFin Technologies Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Friday, February 09, 2024

Not an Espresso customer, but still want to apply for the IPO? Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

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