03-Feb-2024
2 mins read
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Jana Small Finance Bank Limited IPO 2024 is open for subscription from Wednesday, February 7, 2024 and will close on Friday, February 9, 2024. The price band for this IPO is decided at Rs 393 to Rs 414 per share. The minimum lot size of this application for the retail category has 36 shares. The minimum lot size for small non-institutional investors is 14 lots consisting of 504 shares. Whereas, the minimum lot for big non-institutional investors is 68 lots consisting of 2448 shares. The minimum amount of investment required for retail category investors is Rs 14,904 (414 x 36 shares). However, for small non-institutional investors the minimum investment amount is required Rs 2,08,656 ( 414 x 504 shares) and for big non-institutional investors is Rs 10,13,472 (414 x 2448 shares).
Jana Small Finance Bank Limited IPO 2024 is a book-built issue of Rs 570 crores. The issue is a combination of the fresh issue and offer for sale. The fresh issue consists of 1.12 crore shares amounting to Rs 462.00 crores. However, offer for sale consists of 0.26 shares amounting to Rs 108.00 crores. The allotment for this IPO is expected to be finalized on Monday, February 12, 2024. Jana Small Finance Bank Limited IPO will list on both BSE, NSE and listing date fixed on Wednesday, February 14, 2024. The book running lead managers of Jana Small Finance Bank Limited are Axis Capital Limited, ICICI Securities Limited and SBI Capital Market Limited. The registrar for this IPO is Kfin Technologies Limited.
About Jana Small Finance Bank Limited
Jana Small Finance Bank incorporated in July, 2006. It is engaged in a banking business which provides MSME loans, affordable housing loans, term loans to NBFC, loans against fixed deposits, two wheeler loans and gold loans. Company also offers various unsecured loan products including individual and micro business loans, agricultural loans and group loans. Jana Small Finance is the fourth largest small finance bank in terms of AUM and deposit size as of March 31, 2023. As of March 31, 2023 the company had 754 banking outlets, including 272 in unbanked rural centres spread across 22 states and 2 Union Territories. Company served nearly 12 million customers since 2008, including 4.5 million active customers as at March 31, 2023. The vision of Jana Small Finance Bank is to be a leading digitized bank of an aspirational India serving all customers and communities. The mission is to be a trusted and inclusive bank with consistently high standards of performance, compliance and communities.
Objectives of the Issue
The objective of this IPO is to expand the bank’s operation in the Tier-1 cities. The net proceeds from the issue will be utilized to fund the capital requirements of the bank in Tier-1 which will help to increase the customer base. Other than this, the funds will also cover the issue expenses. Moreover, the bank will receive the benefit of listing equity shares on the exchanges.
Financial Performance of Jana Small Finance Bank Limited
Company’s revenue increased by 20.82% and profit after tax increased by 1365.12% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 28,105.87 | 25,643.69 | 20,188.71 | 19,078.66 |
| Revenue | 2,215.57 | 3,699.88 | 3,062.37 | 2,720.74 |
| Profit After Tax | 213.22 | 255.97 | 17.47 | 72.26 |
| Net Worth | 2,547.11 | 1,777.07 | 1,184.56 | 1,100.77 |
| Reserves and Surplus | 2,225.44 | 1,472.28 | 999.29 | 914.09 |
| Total Borrowing | 5,313.54 | 6,277.46 | 4,509.83 | 4,815.32 |
| Amt in Crore |
Other Important Details of Jana Small Finance Bank Limited IPO
| IPO Date | February 7, 2024 to February 9, 2024 |
| Listing Date | 14-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 393 to Rs 414 per share |
| Lot Size | 36 Shares |
| Total Issue Size | 13,768,049 shares (amounting to Rs 570.00 Crore) |
| Fresh Issue | 11,159,420 shares (amounting to Rs 462.00 Crore) |
| Offer for Sale | 2,608,629 shares of Rs10 (amounting to Rs 108.00 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 93,430,855 |
| Shareholding post issue | 104,590,275 |
Lot Size of Jana Small Finance Bank Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 36 | Rs 14,904 |
| Retail (Max) | 13 | 468 | Rs 193,752 |
| S-HNI (Min) | 14 | 504 | Rs 208,656 |
| S-HNI (Max) | 67 | 2,412 | Rs 998,568 |
| B-HNI (Min) | 68 | 2,448 | Rs 1,013,472 |
IPO Reservation of Jana Small Finance Bank Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Promoters and Shareholdings of Jana Small Finance Bank Limited
The promoters of the company are Jana Capital Limited and Jana Holdings Limited.
| Shareholding Pre Issue | 25.20% |
| Shareholding Post Issue |
Time-Table of Jana Small Finance Bank Limited IPO 2024
| IPO Open Date | Wednesday, February 7, 2024 |
| IPO Close Date | Friday, February 9, 2024 |
| Basis of Allotment | Monday, February 12, 2024 |
| Initiation of Refunds | Tuesday, February 13, 2024 |
| Credit of Shares to Demat | Tuesday, February 13, 2024 |
| Listing Date | Wednesday, February 14, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 9, 2024 |
Key Performance Indicator of Jana Small Finance Bank Limited IPO 2024
The market capitalization of Jana Small Finance Bank Limited Rs 4,330.04 crore.
| KPI | Values |
| ROE | 16.78% |
| Debt/Equity | 3.49 |
| RoNW | 14.40% |
| P/BV | 1.28 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 27.4 | 40.77 |
| P/E (x) | 15.11 | 10.15 |
Lead Manager(s) of Jana Small Finance Bank Limited IPO 2024
The book running lead managers for Jana Small Finance Bank Limited IPO are Axis Capital Limited, ICICI Securities Limited and SBI Capital Market Limited.
How to Apply for Jana Small Finance Bank Limited IPO 2024
Wait for the public issue to open for subscription, then click on this link to apply for the Jana Small Finance Bank Limited IPO with Bigul https://ipo.bonanzaonline.com/.
How to Check Allotment Status of Jana Small Finance Bank Limited IPO 2024
The registrar for Jana Small Finance Bank Limited IPO is Kfin Technologies Limited. To check your allotment status, please click on this link below https://ris.kfintech.com/ipostatus/
FAQs
- What is Jana Small Finance Bank Limited IPO 2024?
Jana Small Finance Bank Limited IPO 2024 is a book-built issue of Rs 570 crores. The issue is a combination of the fresh issue and offer for sale. The price band for this IPO is decided at Rs 393 to Rs 414 per share. The minimum lot size of this application for the retail category has 36 shares. The minimum amount of investment required for retail category investors is Rs 14,904.
- Who are the lead managers for the Jana Small Finance Bank Limited IPO 2024?
Axis Capital Limited, ICICI Securities Limited and SBI Capital Market Limited are appointed as the lead managers for the IPO.
- What is the role of Kfin Technologies Limited in this IPO?
Kfin Technologies Limited is the registrar for the Jana Small Finance Bank Limited handling the IPO’s administrative aspects.
- How can I apply for the Jana Small Finance Bank Limited IPO 2024?
The public subscription of this IPO will begin soon. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The net proceeds from the issue will be utilized to fund the capital requirements of the bank in Tier-1 which will help to increase the customer base. Other than this, the funds will also cover the issue expenses.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Jana Small Finance Bank Limited IPO 2024 by clicking on this link https://ris.kfintech.com/ipostatus/
- What is the financial performance of Jana Small Finance Bank Limited?
Jana Small Finance Bank Limited’s revenue increased by 20.82% and profit after tax increased by 1365.12% between the financial year ending with March 31, 2023 and March 31, 2022.