Jana Small Finance Bank files DRHP with SEBI for the proposed IPO; Key Details here

Jana Small Finance Bank is into Financial Services Small Finance Bank and is looking raise funds through Fresh Issue and Offer for Sale

Jana Small Finance Bank to raise Fresh Issue aggregating up to Rs 575 crores and an Offer for Sale up to 4,051,516 Equity Shares through public issue IPO

Jana Small Finance Bank IPO: Jana Small Finance Bank Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.

Initial Public Offer comprising of a Fresh Issue aggregating up to Rs. 575 crores and an Offer for Sale up to 4,051,516 Equity Shares. Axis Capital, ICICI Securities, SBI Capital Markets have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.

Details about upcoming IPO: As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 575 Crs and offer-for-sale (OFS) of up to 4051516 equity shares by Client Rosehill Limited, CVCIGP II Employee Rosehill Limited, Global Impact Funds, S.C.A., SICAR, sub-fund Global Financial Inclusion Fund, Growth Partnership II Ajay Tandon Co-Investment Trust, Growth Partnership II SivaShankar Co-Investment Trust , Hero Enterprise Partner Ventures, who will offload up to 1,757,755 equity shares , up to 929,656 equity shares, up to 141,285 equity shares, up to 825 equity shares, up to 1,995 equity shares and up to 1,220,000 equity shares respectively..

About Company:
Bengaluru based Jana Small Finance Bank Limited (Jana SFB) established in 2006 is small finance bank. Jana SFB provides financial assistance to underbanked and underserved customers and is the fourth largest SFB in India in terms of AUM and in terms of deposit size as on FY23. It had 754 banking outlets, including 272 banking outlets in unbanked rural centres, in 22 states and two union territories as on FY23 and served nearly 12 million customers since 2008, including 4.57 million active customers as on FY23.

About Industry:
Small Finance Bank's (SFB) offer basic banking services such as payment, accepting deposits and lending to the unserved and the underserved segments of the Indian economy, including small businesses, marginal farmers, micro and small industries, and the unorganized sector. SFBs are focused on serving the customers at the bottom of the pyramid to drive financial inclusion. The growth in the industry is illustrated by the exponential growth in both advances and deposits and is supported by the robust rural growth, new product offerings and associated cross-selling opportunities, which will drive the SFBs’market share to multi folds in the future. (Source: Fitch Report)

Source: SEBI, BSE, NSE, DRHP, Company, Industry Data

Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.