Jana Small Finance Bank IPO; Small Finance Bank company IPO to begin from February 07; 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 Bankto raise around Rs 570 crores through public issue IPO

Jana Small Finance Bank IPO is a public offering of shares by Jana Capital Limited and Jana Holdings Limited. The IPO will open on February 07 and will close on February 09. The price band is ₹393 to ₹414 per share and the lot size is 36 shares. The issue size is ₹570. crore. The shares are expected to be listed on NSE, BSE on February 14 (^). Some additional information that you may find useful are: : (**) - based on higher price band (^) indicative date

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Key Pointers of Jana Small Finance Bank IPO:

Promoters of the company are Jana Capital Limited and Jana Holdings Limited Currently promoters hold 25.23% stake in the company. While post-equity promoters stake will be 22.54%

Company has undertaken pre-IPO placement by the way of Private Placement of Equity Shares and alloted 2,840,756 shares at a price of Rs 398per share. Total value of Pre-IPO placement is Rs. 113.2 crores issued to (i) a pre-IPO placement of 12,154,044 CCPS (which were subsequently converted into 401,149 Equity Shares) at an issue price of ₹ 10 each aggregating to ₹ 121.54 million and (ii) a pre-IPO placement of 2,439,607 Equity Shares at an issue price of ₹ 414 each (including a premium of ₹ 404 per Equity Share) aggregating to ₹ 1,009.99 million. The size of the Fresh Issue has been adjusted to ₹ 4,620.00 million..

• Company aims to raise between Rs 565 to 570 crs through this IPO.
• The net proceeds of the issue will be utilized to 1) For augmentation of our Bank’s Tier –1 capital base to meet Company’s future capital requirements.
• Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 06-Feb-24.
• Price band for the IPO has been fixed at Rs 393 to 414 per share and bid lot are in multiple of 36 shares. The implied market cap post-issue at Rs 4,134 to 4,330 crs.
• As per the tentative schedule, allotment date of this IPO is most likely on February 12 and share are expected to be listed on NSE, BSE on February 14.
• Company has direct competition in the Small Finance Bank's space with listed peers like AU Small Finance Bank and Suryoday Small Finance Bank.
• Axis Capital, ICICI Securities, SBI Capital Markets has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.

About Jana Small Finance Bank Limited

Jana Small Finance Bank Limited

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.

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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, IPO Status, 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.